Nihon Seiko Co., Ltd. (TSE:5729) announced private placement of 165,000 common shares at a price of ¥2,256 per share for gross proceeds of ¥372,240,000 to NAGAWA Co., Ltd. (TSE:9663) on February 7, 2020. The investor will acquire 6.36% stake in the company. The company will incur expenses of ¥4,000,000 and will receive net proceeds of ¥368,240,000 in the transaction.

The transaction is expected to close on February 26, 2020. The transaction has been approved by the board of directors of the company.