Sanyodo Holdings Inc (JASDAQ:3058) announced a private placement of 1,400,000 shares at a price of JPY 994 per share for gross proceeds of JPY 1,391,600,000 on August 14, 2018. The transaction will involve participation from existing investor, Tohan Corporation. Pursuant to the transaction, the investor will hold 36.49% stake in the company. The company will issue securities through third party allotment method. The transaction is expected to close on August 31, 2018. The transaction has been approved by the board of directors of the company.