AIRDO Co., Ltd. announced a private placement of 700 Class A preferred stock at a price of ¥10,000,000 per stock for the gross proceeds of ¥7,000,000,000 on May 28, 2021. The company will issue the securities to existing investor Development Bank of Japan Inc. and North Pacific Bank, Ltd. (TSE:8524) on third party allotment basis. The transaction is expected to close in July 2021. The transaction has been approved by board of the company.