On March 7, 2023, Phil Company,Inc. closed the transaction. The company issued 227,800 shares at an issue price of ¥1,097 per share for gross proceeds of ¥249,896,600 in the transaction. The transaction included participation from KAYAC Inc. for 45,500 shares and ONGAESHI Capital Fund No.

1, a fund managed by Tryfunds Investment Co., Ltd. for 182,300 shares. The company raised funds through third-party allotment.