Goodspeed. Co., Ltd. announced that it expects to receive ¥118.332 million in funding from Ito-Koumuten Co.,Ltd.
April 14, 2021
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Goodspeed. Co., Ltd. (TSE:7676) announced a private placement of 69,200 treasury common stock for ¥1,710 per share for gross proceeds of ¥118,332,000 on April 15, 2021. The transaction will include participation from Ito-Koumuten Co.,Ltd. which will hold 2.26% stake in the company after completion. The company will issue shares via third-party allotment and the transaction has been approved by the board of the company. The transaction is subject to entry into force of the securities registration statement based on the financial instruments and exchange act. The company will receive net proceeds of approximately ¥117,782,000. The transaction is expected to close on May 6, 2021.
Good Speed Co Ltd is a Japan-based company principally involved in the sale of used cars and motorcycles, automobile sales, and related businesses. The Company provides used car sales, car purchasing, maintenance and body repair, insurance agency, rental car, and gas station services. The used car sales business operates MEGA specialty stores for used cars, domestic car specialty stores, and imported car specialty stores. The car acquisition business acquires cars through batch acquisition assessment sites operated by multiple companies. The maintenance and sheet metal business provides services such as the maintenance of sold cars and car inspections. Insurance agency business provides agency service of general insurance companies. The car rental business provides vehicle rental services.
GOODSPEED CO.,LTD. 
