AI Squared Co., Ltd. announced a private placement of 39,000 shares at ¥5,000 per share for gross proceeds of ¥195,000,000 on May 17, 2017. The transaction will include participation from new investor Media Do Co., Ltd. (TSE:3678) to acquire 20.1% stake in the company. The shares will be issued through third party method. The transaction has been approved by the board of directors of the investor. The investor will appoint one director to the company’s board. The company entered into a capital and business tie-up contract with the investor. The transaction is expected to close around May 31, 2017. The company reported total assets of ¥58,000,000, net assets of ¥55,000,000, net assets per share of ¥620, sales of ¥5,000,000, operating profit of ¥33,000,000, current profit of ¥34,000,000, net income of ¥34,000,000, and net income per share of ¥379 for the year ended June 30, 2016.