Miyakoshi Holdings, Inc. (TSE:6620) announced a private placement of 10,000,000 common shares at ¥774 per share for gross proceeds of ¥7,740,000,000 on March 23, 2018. The transaction will include participation from returning investor Crown United Co., Ltd. to hold 38.73% stake in the company. The settlement date is July 5, 2018. The company will pay expenses of ¥40,000,000. The company will receive net proceeds of ¥7,700,000,000 in the transaction. The transaction has been approved by the board of directors of the company. The transaction is subject to shareholders’ approval at its 7th general meeting to be held on June 28, 2018.