Kyoei Fire & Marine Insurance Co., Ltd. announced a private placement of 3,549 common shares at ¥280,000 per share for gross proceeds of ¥993,720,000 on February 16, 2024. The transaction includes participation from new investors The Toa Reinsurance Company Limited will issue 357 shares, The Shimizu Bank, Ltd. will issue 357 shares, Fukoku Mutual Life Insurance Company will issue 1,785 shares and hold 0.62% stake in the company and returning investor Shinkin Central Bank will issue 1,050 shares and hold 6.55% stake in the company. The company will issue the shares through Third Party Allotment method.

The transaction is expected to close on March 28, 2024.