Ukai Co., Ltd (JASDAQ:7621) announced a private placement of 550,000 treasury shares at ¥2,274 per share for gross proceeds of ¥1,250,700,000 on February 26, 2014. The transaction will include participation from new investors, Keio Corporation and Kikkoman Corp. Keio Corporation will subscribe to 300,000 shares and Kikkoman Corp.

will subscribe to 250,000 shares by third party allocation and as part of the round, Keio Corporation and Kikkoman Corp. will acquire 5.74% and 4.78% stakes in the company respectively. The investors will acquire 10.52% stake in the company through this transaction.

The company will bear various issuance costs including document creating expense, legal fees, and other costs of ¥3,000,000 to receive net proceeds of ¥1,247,700,000. The transaction is expected to close on March 14, 2014.