Nippon Shikizai, Inc. (JASDAQ:4920) announced a private placement of 930,000 shares at ¥347 per share for gross proceeds of ¥322,710,000 on April 15, 2016. The transaction will include participation from Chifure Corporation for 365,000 shares, Mitsubishi Pencil Co., Ltd. for 315,000 shares, and IDA Laboratories Co., Ltd. for 250,000 shares. Pursuant to the transaction, Chifure Corporation will hold 6.95% stake, Mitsubishi Pencil Co., Ltd. will hold 6% stake, and IDA Laboratories Co., Ltd. will hold 4.86% stake in the company.

The company will incur issue costs of ¥19,500,000 including registration-related expenses of ¥1,500,000 and legal fees and advisory expenses of ¥18,000,000. The company will receive net proceeds of ¥303,210,000 in the transaction. The transaction is expected to close on May 10, 2016.