Sunwood Corp. (JASDAQ:8903) announced a private placement of 1,000,000 shares at ¥641 per share for gross proceeds of ¥641,000,000 with new investor, Takara Leben Co., Ltd. on November 5, 2013. The net proceeds from the transaction will be ¥598,000,000, after deducting issuance expenses of ¥43,000,000, which includes ¥39,000,000 for financial advisory cost, and registration related expenses and expense for creation of the security registration statement. The transaction will happen through third party allocation and will be allotted in full until the end of May 2014. The investor will acquire 20.43% stake and voting rights of 20.79% pursuant to this transaction. The tentative payment date for the transaction will be November 27, 2013. The transaction was approved at the board of directors' meeting of the investor.

ON November 27, 2013, Sunwood Corp. closed the transaction. The company issued 500,000 common shares for ¥320,500,000.