Naigai Co., Ltd. (TSE:8013) announced a private placement of 4,250,000 treasury shares and 3,891,000 shares at ¥51 per share with new investor, Sumikin Bussan Corp. for gross proceeds of ¥415,191,000 on December 21, 2012. The investor will hold a 9.91% stake in the company through this transaction.

The company expects to receive the net proceeds of ¥406,191,000 after deducting the issuance sundry fees of ¥9,000,000. The share issuance is through third party allocation. The payment due date is January 16, 2013.

The transaction was approved at the company's board of directors' meeting.