Goyo Foods Industry Co., Ltd. (TSE:2230) announced a private placement of 90,000 shares at a price of ¥880 for gross proceeds of ¥79,200,000 and 49 first series convertible unsecured corporate bonds at a price of ¥4,488,000 per bond for gross proceeds of ¥219,912,000 for aggregate gross proceeds of ¥299,112,000 on May 12, 2017. The transaction will include participation from NCB Kyushu Kasseika Investment Limited Partnership.; a fund managed by NCB Capital Co., Ltd. The company will also issue warrants along with bonds. The bonds do not carry any annual coupon. The payment date of the transaction is May 29, 2017. The securities will be issued by way of third party allocation. The warrants can be exercised into 249,900 shares of the company. The bonds can be converted into common shares of the company at a fixed conversion price of ¥880 per share. The company will incur issuance expenses of ¥1,382,272 in the transaction, including ¥250,000 for the evaluation of the convertible bonds with warrants, ¥250,000 for legal service fees, ¥367,000 for registration fees, ¥500,000 for securities registration statement creation expenses, and ¥14,000 for planned recipient investigation expenses. Pursuant to the transaction, the investor will acquire a stake of 4.98% in the company.