Yoko Toshikaihatsu Co. (JASDAQ:8946) announced a private placement of 2,870,000 common shares at ¥230 per share for gross proceeds of ¥660,100,000 on February 20, 2015. The round will see participation from existing investor, Dewei International Development Co., Ltd. for 2,100,000 shares and Hong Kong Plenty Heart International Limited for 770,000 shares.

The transaction will take place through third party allocation. The payment date will be on March 27, 2015. The company will receive net proceeds of ¥652,100,000.

The company will incur issuance expenses of ¥8,000,000; of which ¥2,000,000 will be spent on investigation cost of the investor, ¥2,500,000 for legal fees, and ¥3,500,000 and ¥3,500,000 for other expenses that include registration taxes, Japan Securities Depository Center registration expenses, and other fees. The transaction has been approved by the board of directors of the company.