Nihon Kagaku Sangyo Co., Ltd. (TSE:4094) announced a private placement of 284,900 treasury common shares at ¥1,755 per share for gross proceeds of ?¥499,999,500 on August 8, 2017. The shares will be issued to Sumitomo Metal Mining Co., Ltd. (TSE:5713). The company will incur issue expenses of ¥15,000,000 which includes the creation of various documents such as the securities registration statement, attorney fees and financial advisory fees.

The company will receive net proceeds of ¥484,999,500. The transaction is expected to be completed by August 25, 2017. The transaction has been approved by board of directors of the company.

The shares will be issued through third party allocation method.