TETSUJIN Inc. (TSE:2404) announced a private placement to issue 5,415,162 common shares at issue price of ¥277 per share for gross proceeds of ¥1,499,999,874 on July 15, 2020. The transaction will include participation from returning investor, FIRST PACIFIC Capital Co., Ltd.. The investor will hold 64.5% stake in the company post closing of the transaction. The funding will be raised through third party allotment. Of the total capital increase, ¥749,999,937 will go to the capital reserve of the company. The company incurred expenses of ¥19,999,874 in relation to the transaction receiving net proceeds of ¥1,480,000,000. The transaction is expected to close on August 3, 2020. The transaction has been approved by the board of directors of the company.