ONKYO Corporation (JASDAQ:6628) announced a private placement of 8,080,600 shares at ¥127 per share for gross proceeds of ¥1,026,236,200 on November 5, 2015. The transaction will include participation from a new investor, Kawai Musical Instruments Manufacturing Co., Ltd. The company has signed the agreement with the investor. As part of the transaction, the investor will acquire 11.04% stake in the company.

The transaction will take place through third party allocation. The settlement date for the transaction is November 24, 2015. The company will incur issuance expenses of ¥9,000,000; of which ¥5,000,000 will be for legal attorney fees and ¥4,000,000,000 will be for other expenses related to registration expenses.

The company will receive net proceeds of ¥1,017,236,200.