The Saikyo Bank, Ltd. announced a private placement of 4,350,000 2nd preferred shares at ¥1,000 per share for gross proceeds of ¥4,350,000,000 on May 11, 2016. The application period will be from July 11, 2016 till July 19, 2016. The settlement date for the transaction is July 19, 2016.

The transaction will include participation from Chofu Seisakusho Co., Ltd. for 500,000 shares, TOSOH CORP. for 300,000 shares, Tokuyama Corp. for 300,000 shares, and other investors including individual investors.

The company will incur issuance costs of ¥38,000,000 and will receive net proceeds of ¥4,312,000,000 in this transaction.