Marumitsu Co., Ltd. (JASDAQ:8256) announced that it has entered into an agreement private placement of 5,000,000 common shares at ¥81 per shares for gross proceeds of ¥405,000,000 on September 13, 2019. The company transaction will include participation from Wealth Brothers Co., Ltd.. Post the transaction the investor will hold 19.60% stake in the company. The transaction was approved by the board of directors. The securities are issued through third party allotment method. The transaction is expected to close on September 30, 2019. The company will incur ¥5,200,000 as attorney fees, securities registration preparation costs, registration-related costs, etc., and have net proceeds of ¥399,800,000.