UMENOHANA Co., Ltd. announced that it expects to receive ¥2 billion in funding from The Nishi-Nippon City Bank, Ltd., DBJ Regional Investment Co., Ltd.
June 21, 2021
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UMENOHANA Co., Ltd. announced a private placement of 2,000 Class A preferred stock at the price of ¥1,000,000 per stock for gross proceeds of ¥2,000,000,000 on June 22, 2021. The transaction will include participation from The Nishi-Nippon City Bank, Ltd. and DBJ Food and Beverage / Lodging Support Fund L.P. a fund managed by DBJ Regional Investment Co., Ltd. each will acquire 1,000 shares for ¥1,000,000,000 and will hold 50%. The transaction will happen through third party allotment. The transaction has been approved by the board of directors of the company and is subject to ordinary general meeting of shareholders scheduled to be held on July 27, 2021. The transaction is expected to close on July 30, 2021. The transaction expenses would be ¥50,000,000 which included issuance costs is expected to include financial advisory fees, attorney's fees, stock price calculation costs, registration license tax, and judicial scrivener costs and net proceeds would be ¥1,950,000,000.
UMENOHANA CO., LTD. is a company mainly engaged in the operation of restaurants. The Company operates in three business segments. The Catering segment is engaged in the operation of Japanese and Chinese style restaurants under the names UMENOHANA, CHINA UMENOHANA and KANISHIGE, among others. It offers bean curd skin and bean curd course dishes, drinks, crab course dishes, Chinese course dishes and Chinese delicatessens. This segment is also engaged in the provision of take out services for lunch boxes and others, as well as the royalty business. The Takeout segment is engaged in the operation of takeout stores under the names KOICHIAN SUSHI and UMENOHANA. It offers sushi, rice, Shao-Mai (steamed pork dumplings), fried bean curd skin and wheat gluten. It is also engaged in the online sale of gift items. The others segment is involved in the export business, as well as manufacture and sale of processed fishery products.
UMENOHANA Co., Ltd. announced that it expects to receive ¥2 billion in funding from The Nishi-Nippon City Bank, Ltd., DBJ Regional Investment Co., Ltd.