Tabuchi Electric Co., Ltd. (TSE:6624) announced a private placement of 63,800,000 common shares for gross proceeds of ¥2,999,999,989 from Diamond Electric Mfg.Co.,Ltd on November 19, 2018. The company will issue shares through third-party allotment method. Post closing, the investor will hold 66.9% stake in the company. The transaction has been approved by board of directors of the company.