NF Blossom Technologies Co., Ltd announced that it expects to receive ¥2.45 billion in funding from NF Corporation, ITOCHU Corporation

NF Blossom Technologies Co., Ltd announced that it will issue 700,000 shares for the gross proceeds of ¥2,450,000,000 on December 25, 2019. The transaction will include participation from third party allotment. The transaction included participation from returning investor NF Corporation (JASDAQ:6864) for 300,000 shares and 60% stake and new investor ITOCHU Corporation (TSE:8001) for 400,000 shares and 40% stake.

The transaction is expected to close on February 3, 2020. The company has capital of ¥105,000,000, post the closing the capital will increase to ¥1,330,000,000.