JFLA Holdings Inc. announced a private placement for issuance of 2,000 class A common shares at a price of ¥1,000,000 per share for the gross proceeds of ¥2,000,000,000 on September 14, 2023. The transaction will include participation from new investor Regional Economy Vitalization Corporation of Japan (REVIC). The transaction has been approved by the board of directors of the company.

The transaction still needs to be approved at the extraordinary general meeting of shareholders scheduled to be held in late November 2023. The company will add ¥1,000,000,000 as registered capital and ¥1,000,000,000 as capital reserves. The company incurred issue expense in respect of the transaction of ¥5,000,000 as registration-related costs, administrative fees, attorney's fees, advisory fees, document preparation costs such as extraordinary reports, etc.

The transaction is expected to close on January 31, 2024.