Precision System Science Co., Ltd. announced that it has signed capital and business alliance agreement for a private placement of 2,310,000 shares at ¥371.68 per share for gross proceeds of ¥858,580,800 on May 15, 2017. The transaction will include participation from new investor, Hitachi High-Technologies Corporation (TSE:8036). The shares will be issued through third-party allocation method.

The transaction is expected to be completed by May 31, 2017. The company will incur issue expenses including registration-related expenses, advisory expenses, and expenses for document preparation of ¥4,000,000 and will receive net proceeds of ¥854,580,800. The investor will acquire 10.02% stake in the company through this transaction.

The transaction has been approved by board of directors of the company.