On December 25, 2019, Innophys Co., Ltd. closed the transaction. The company issued 3,530 class C common shares issued at a price of ¥1,000,000 for gross proceeds of ¥3,530,000,000 in the transaction. The transaction included participation from Fidelity Investments, Brother Industries, Ltd. (TSE:6448), Future Venture Capital Co., Ltd. (JASDAQ:8462), Nac Co., Ltd. (TSE:9788), TIS Inc. (TSE:3626), Towa Pharmaceutical Co., Ltd. (TSE:4553), Tokai Corporation, Bic Camera Inc. (TSE:3048) and new investor Hi-Lex Corporation (TSE:7279) for 1,000 shares for ¥1,000,000,000.

Post closing, Hi-Lex Corporation (TSE:7279) will acquire 12.9% stake in the company. The transaction will take place through third party allotment method.