Kyushu Asteeda Co., Ltd. announced a private placement of common shares for gross proceeds of ¥20,000,000 on June 8, 2021. The transaction will involve participation from returning investor Ryukyu Asteeda Sports Club K.K (TSE:7364) and its stake will increase from 51% to 97.67%, post the closing. The transaction has been approved by the board of directors of the investor. The transaction is expected to close in June 2021. Post the closing, the company's capital will increase from ¥1,000,000 to ¥11,000,000 and capital reserve will be ¥10,000,000.