Goyo Foods Industry co.,ltd announced that it expects to receive ¥350.02 million in funding from FP Seicho Shien A Investment Limited Partnership and another investor.

Goyo Foods Industry co.,ltd (TAIM:2230) announced a private placement of 767,600 common shares at ¥456 per share for gross proceeds of ¥350,025,600 on July 24, 2015. The transaction is expected to close on August 12, 2015. The transaction will take place through third party allocation.

The transaction has been approved by the board of directors of the company. The company will incur issuance expenses of ¥1,625,000 including registration expenses of ¥1,225,000, securities registration statement creation expenses of ¥300,000, and antisocial forces investigation expenses of ¥100,000. The transaction will include participation from existing investors, Innovation Engine Food Reform Fund L.P. for 657,900 shares for gross proceeds of ¥300,002,400 for 5.35% stake and will hold 38.3% stake on closing and existing investor, FP Seicho Shien A Fund, a fund managed by Friendly Partners Co., Ltd for 109,700 shares for gross proceeds of ¥50,023,200 for 0.1% stake and will hold 6.4% stake on closing.