Kitanihon Spinning Co., Ltd. (TSE:3409) announced a private placement of 9,037,700 common shares at a price of CNY 70 per share for gross proceeds of up to CNY 632,639,000 on September 4, 2020. The application period is from October 28, 2020 to November 12, 2020. The transaction is expected to close on November 27, 2020. As a result, the registered shares of the company will increase by 9,037,700 to 18,075,400, and the capital capital will increase by CNY 316,319,500 to 1,030,319,500. The company will pay issuance costs of CNY 3,000,000 in the transaction. The transaction has been approved by the board of directors of the company