Medical & Biological Laboratories Co., Ltd. (JASDAQ:4557) announced a private placement of 8,704,000 shares at ¥517 per share for gross proceeds of ¥4,499,968,000 on March 12, 2013. The transaction will include sole participation from new investor, JSR Corp. As part of the round, one member of JSR Corp. will join the company's board of directors. The investor will acquire a total of 33.4% stake in the company through this transaction. The company will issue the shares through third party allocation. The effective date for the transaction is March 29, 2013.

On the same date, the company also announced that it has obtained approval at the board of directors' meeting.

On March 29, 2013, Medical & Biological Laboratories Co., Ltd. closed the transaction. The company bore expenses of ¥27,250,000 for registration and license tax expenses, attorney's fee, and other expenses to receive net proceeds of ¥4,472,718,000.