Tomato Bank, Ltd. announced a private placement of 1,000,000 common shares at ¥10,000 per share for gross proceeds of ¥10,000,000,000 through third-party allotment on November 8, 2021. The transaction will include participation from existing investors The Momiji Bank, Ltd. for 100,000 shares for ¥1,000,000,000, The Chugoku Bank, Limited for 100,000 shares for ¥1,000,000,000, Asahi Mutual Life Insurance Company for 100,000 shares for ¥1,000,000,000, The Ehime Bank, Ltd. for 70,000 shares for ¥700,000,000, Tottori Bank, Ltd. for 50,000 shares for ¥500,000,000 and other investors. The company will pay ¥59,000,000 as issuance costs which includes registration license tax, value calculation cost for the 2nd Class A preferred stock, attorney's fee, and financial advisory fee and will received net proceeds of ¥9,941,000,000 in the transaction.

The transaction has been approved by the board of directors of Tomato Bank, Ltd. The transaction is expected to close on December 10, 2021.