Innophys Co., Ltd. announced a private placement of 1,170 shares at ¥500,000 per share for gross proceeds of ¥585,000,000 on July 30, 2015. The company will transfer ¥250,000 to its capital and ¥292,500,000 to it capital reserve. The transaction will involve participation from new investors, Innovation Network Corporation of Japan, Abukuma Shinkin Bank, Seibu Shinkin Capital Inc., DBJ Capital Co., Ltd., The Toho Bank, Ltd., Investment Arm, and TUS Business Holdings Co., Ltd. Innovation Network Corporation of Japan will acquire 15.5% stake in the company.

The transaction has been approved by the board of directors of the company. The transaction is expected to close between August 6, 2015 and August 21, 2015.