Kitoku Shinryo Co., Ltd. announced that it expects to receive ¥216.3 million in funding from ZEN-NOH Co. Ltd.
April 02, 2018
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Kitoku Shinryo Co., Ltd. announced a private placement of 300,000 common shares at a price of ¥721 for gross proceeds of ¥216,300,000 on April 3, 2018. The transaction included participation from new investor, ZEN-NOH Co. Ltd. The company incurred issuance expenses of ¥2,500,000 in the transaction. The company will receive net proceeds of ¥213,800,000 in the transaction. The transaction is expected to close on April 19, 2018. The company will issue securities through third party allotment method. The transaction has been approved by the board of the company.
KITOKU SHINRYO CO., LTD. is a Japan-based company mainly engaged in the rice business, the feed business, the chicken egg business and the food business. The Company operates in four business segments. The Rice segment is engaged in the manufacture and sale of general milled rice and rinse-free milled rice for commercial uses and family uses, rice for cooked rice uses, and minimum access rice, as well as the sale of brown rice to wholesalers and retailers. The Feed segment is engaged in the sale of feed products such as rice bran products and imported pastures, and feed raw materials. The Chicken Egg segment is engaged in the sale of eggs for commercial uses and family uses, and processed egg products. The Food segment is engaged in the manufacture and sale of rice flours for confectioneries and processed food products, as well as processed food products and protein-modified rice.
KITOKU SHINRYO CO., LTD. 
