The Sailor Pen Co., Ltd. (TSE:7992) announced a private placement of 2,100,000 common shares at a price of ¥281 per share for gross proceeds of ¥590,100,000 on April 27, 2018. The company may pay ¥2,800,000 for issuance expenses. The transaction is expected to close on May 22, 2018. The company issued shares through the third party allotment. The transaction has been approved by board of directors.