Ichishin Holdings Co.,Ltd. (JASDAQ:4645) announced a private placement of 693,600 treasury shares at a price of ¥510 per share for gross proceeds of ¥353,736,000 on July 26, 2019. The transaction will include participation from returning investor Gakken Holdings Co., Ltd. (TSE:9470). Post transaction, the investor's stake in the company will increase from 33.3% to 37.66%.

The company will incur estimated issuance costs of ¥500,000. The estimated net proceeds of transaction will be ¥353,236,000. The transaction has been approved by the board of directors of the company.

The company will issue shares through third party allotment. The transaction is expected to close on August 13, 2019.