Kuze Co., Ltd. announced that it has entered into capital and business alliance agreement with new investor, KOKUBU GROUP CORP. for a private placement of 924,945 shares at a price of ¥757 per share for gross proceeds of ¥700,183,365 on March 18, 2022. The investor will acquire 19.99% stake in the company.

The company will issue shares through third party allotment. Pursuant to the transaction, the investor will have a right to appoint a director to the company. The transaction has been approved by board of directors of the company.

The company has paid issue expenses of ¥10,000,000 and received net proceeds of ¥690,183,365. The payment period for the shares is from April 11, 2022 to April 15, 2022.