Bunkyodo Group Holdings Co., Ltd. (JASDAQ:9978) announced that it has entered into underwriting agreements for a private placement of 466 Class K shares at a price of ¥10,000,000 per share for gross proceeds of ¥4,660,000,000 on September 27, 2019. The transaction will include participation from The Shoko Chukin Bank,Ltd. for 27 shares, new investors Mizuho Bank, Ltd., Investment Arm for 138 shares for 19.34% stake, Sumitomo Mitsui Banking Corporation for 100 shares for 13.99% stake, Sumitomo Mitsui Trust Bank, Limited for 39 shares for 5.46 % stake, The Shizuoka Bank, Ltd. (TSE:8355) for 15 shares for 2.1% stake, returning investor Nippon Shuppan Hanbai Inc. for 50 shares and The Bank of Yokohama, Ltd. for 97 shares. Post to the transaction, Nippon Shuppan Hanbai Inc. and The Bank of Yokohama, Ltd. will hold 14.03% and 13.83% stake in the company repectively.

The transaction is subject to approval of board of directors and shareholders in the ordinary general meeting. The payment is from December 2, 2019 to December 27, 2019.