Cross Rink Inc. announced that it will issue 334 shares at an issue price of ¥10,855,000 per share for gross proceeds of ¥3,625,570,000 and 367 shares at an issue price of ¥23,855,000 for gross proceeds of ¥8,754,785,000 for aggregate gross proceeds of ¥12.380,355,000 on December 16, 2020. The transaction will involve participation from returning investors Nisso Corporation (TSE:6569) and WILLTEC Co.,Ltd. (TSE:7087) for 167 shares for gross proceeds of ¥1,812,785,000 each respectively and new investor HIRAYAMA HOLDINGS Co.,Ltd. (JASDAQ:7781) for 367 shares for gross proceeds of ¥8,754,785,000. Post the closing, Nisso Corporation (TSE:6569)'s stake will reduce from 14.29% to 13.14%, WILLTEC Co.,Ltd. (TSE:7087)'s stake will increase from 9.52% to 10.33%, and HIRAYAMA HOLDINGS Co.,Ltd. (JASDAQ:7781)'s will acquire 10.33% stake in the company. The company will issue shares through third party allotment method. The transaction is expected to close on January 29, 2021.

On January 19, 2021, the board of directors of Nisso Corporation (TSE:6569) approved the transaction.