Watami Co., Ltd. (TSE:7522) announced a private placement of 998,100 shares for ¥1,002 per share for gross proceeds of ¥1,000,096,200 on March 5, 2021. The transaction will include participation from returning investor Arete Ltd. increasing its stake from 26.47% to 28.28% after completion. The company will issue shares by method of third-party allocation. The company will receive net proceeds of ¥996,096,200 in the transaction.