ITbook Co., LTD. (TSE:3742) announced a private placement of 733,400 shares at ¥409 per share for gross proceeds of ¥299,960,600 to an individual on January 31, 2017. The transaction will include participation from individual investor Kaji, Hiroyuki. The payment date of the transaction is February 17, 2017. The shares will be issued through a third party allotment method. Post the closing of the transaction the investor will hold 13.96% stake in the company. The expenses in the transaction will be ¥3,000,000 which will include registration expenses, recipient inspection expenses and other expenses. The transaction was approved by the board of directors of the company.