Seikou Ukou Co., Ltd announced a private placement of 100 shares at ¥1.25 million per share for gross proceeds of ¥125 million on February 26, 2016. The transaction will include participation from new investor Wadakohsan Corporation. The company will receive funding through third party capital increase.

Pursuant to the transaction, the investor will hold 33.3% stake in the company. The transaction has been approved by board of directors of the investor. The conclusion of the capital and business tie-up contract and settlement of the third party capital increase is expected by March 7, 2016.