PIA Corporation (TSE:4337) announced a private placement of 816,600 shares at a price of ¥2,723 for gross proceeds of ¥2,223,601,800 on November 12, 2020. The transaction included participation from Kiraboshi Capital Tokyo Sparkle Investment Limited Partnership. The company is raising funding through third-party allotment method. The transaction has been approved by the board of directors of the company. The transaction is expected to close on December 4, 2020.