Watabe Wedding Corporation (TSE:4696) announced a private placement of 5,102,800 shares at a price of ¥700 per share with new investor Senshukai Co., Ltd. for gross proceeds of ¥3,571,960,000 on July 24, 2015. As a part of the transaction, the investor will acquire 33.99% stake in the company. The transaction will be effective from September 7, 2015 to October 28, 2015.

The company will incur expenses of ¥27,000,000 and will receive net proceeds of ¥3,544,690,000. The company will incur ¥3,000,000 for legal advisory fees, ¥12,500,000 for registration fees, ¥6,000,000 for share prices valuation fees, ¥2,500,000 for independent committee establishment costs, and ¥3,000,000 for other expenses.