PT. Tatsumi Indonesia announced a private placement of common shares for gross proceeds of $5,000,000 on December 14, 2018. The transaction will involve participation from existing investors, TATSUMI Corporation (JASDAQ:7268) and Mitsuba Corporation (TSE:7280).

Post the closing, TATSUMI Corporation (JASDAQ:7268) will hold 77% stake and Mitsuba Corporation (TSE:7280) will hold 23% stake in the company. The transaction has been approved by the board of directors of TATSUMI Corporation (JASDAQ:7268). As a result of the transaction, the capital of the company will increase from $7 million to $12 million.

The transaction is expected to close in late January 2019.