Alps Alpine Co., Ltd. (TSE:6770) announced that it has entered into a purchase agreement of 2,600,000 common shares at a price of ¥1,433 per share for gross proceeds of ¥3,725,800,000 on January 28, 2021. The transaction will include participation from Nippon Seiki Co., Ltd. (TSE:7287). The company will issue the securities through third-party allotment.

The company will receive an approximate amount of net proceeds of ¥3,719,600,000 in the transaction. The company expects to close the transaction on February 12, 2021.