Futaba Industrial Co., Ltd. (TSE:7241) announced a private placement of 19,531,200 common shares at ¥512 per share for gross proceeds of ¥9,999,974,400 on May 23, 2016. Returning investor, Toyota Motor Corporation will subscribe shares through third party allocation method and whose stake will increase from 12.27284% to 31.39%. The company will incur expenses of ¥114,600,000 and will receive net proceeds of ¥9,885,374,400.

The shares will be issued from June 8, 2016 to May 22, 2017.