Taiyo Bussan Kaisha, Ltd. (JASDAQ:9941) announced a private placement of 180,000 common shares at a price of ¥495 per share for gross proceeds of ¥89,100,000 on September 11, 2020. The transaction will include participation from existing investor, Shikishima Farm Co. for 100,000 shares, new investor, Takihachi Co., Ltd. for 80,000 shares. The shares will be subscribed through third party allocation. The transaction is expected to close on September 30, 2020. The company will pay ¥1,500,000 for registration expenses, ¥10,000,000 for financial advisory expenses, ¥1,500,000 for attorney's fees and ¥1,500,000 for other administrative expenses in the transaction. The company will receive net proceeds of ¥74,600,000 in the transaction. Pursuant to the transaction; Shikishima Farm Co., Ltd. and Takihachi Co., Ltd. will acquire 11.03% and 5.30% stake respectively in the company. The transaction has been approved by the board of directors of the company.