Kaihan Co., Ltd. (TSE:3133) announced a private placement of 298,500 common shares at a price of ¥670 for the gross proceeds of ¥199,995,000 on March 13, 2020. The transaction will include participation from existing individual investor Toshiki Hisada through third party allotment. The investor will hold 60.24% stake in the company upon closing. The transaction is expected to close on March 31, 2020. The company will incur ¥2,000,000 as issue expenses and receive ¥197,995,000 as net proceeds in the transaction.