Poplar Co., Ltd. announced that it has entered into a shareholder agreement for private placement of 14,000 Class 2A shares at an issue price of ¥50,000 per share for gross proceeds of ¥700,000,000 with new investor MIT Kouiki Saiken Support Fund and HiCAP No. 4 Fund on April 26, 2023. The payment date is May 31, 2023.

The estimated issue expenses amount to ¥50,000,000 and net proceeds amount to ¥ 650,000,000. MIT Kouiki Saiken Support Fund and HiCAP No. 4 Fund will subscribe for 6,000 shares and 8,000 shares respectively.

The Class A shares will be issue through a third party allotment. The transaction was approved by the board of directors.