Nihon Seimitsu Co., Ltd. (JASDAQ:7771) announced a private placement of 2,238,000 common shares at ¥134 per share for gross proceeds of ¥299,892,000 on November 5, 2014. The transaction will include participation from existing investor GNCO Co., Ltd., which will invest for 1,119,000 shares, will acquire 3.87% stake through this transaction, and will hold 23.32% stake in the company and new investor Q Capital Partners Co., Ltd., which will invest for 1,119,000 shares and will acquire 6.34% stake in the company through this transaction. The net proceeds from the transaction will be ¥297,892,000, after deducting estimated amount of various issuance expenses of ¥2,000,000, which includes registration fees of ¥1,200,000, legal fees of ¥500,000, and other overhead expenses of ¥300,000. The securities will be issued through third party allocation. On the same date, the transaction was approved by the board of directors of the company. The settlement date for the transaction is November 21, 2014. The company will incur issue costs such as legal expenses and registration expenses, etc. of ¥2,000,000 and will receive net proceeds of ¥297,892,000 in the transaction.

On November 21, 2014, Nihon Seimitsu Co., Ltd. closed the transaction.