Aisan Technology Co., Ltd. (JASDAQ:4667) announced a private placement of 280,000 common shares at an issue price of ¥2,399 per share for gross proceeds of ¥671,720,000 on August 28, 2018. The company has signed business alliance agreement with KDDI Corporation (TSE:9433). The shares will be issued through third party allotment method.

The company will incur issue expenses of ¥8,000,000 in the transaction. The net proceeds after the expenses will be ¥663,720,000. The share capital and capital reserve will be increased by ¥335,860,000 each.

The expected payment date of the transaction is September 13, 2018. The transaction has been approved by the board of the company.