Nagoya Electric Works Co., Ltd. (NSE:6797) announced a private placement of 170,000 shares at a price of ¥416 per share for gross proceeds of ¥70,720,000 on February 18, 2015. The securities will be issued to Daiichi Jitsugyo Co. Ltd. through third party allocation.

The transaction will close on March 9, 2015. The company will receive net proceeds of ¥70,395,000 after deducting issuance expenses of ¥325,000 in the transaction. On the same date, the transaction was approved by the board of directors of the company.