GFA Co., Ltd. announced a private placement of 1,470,500 common shares at a price of ¥68 per share for gross proceeds of ¥99,994,000 on August 14, 2023. The transaction will include participation from new investor, Happy horse LLC. The company issued shares through third party allocation method.

The transaction has been approved by the Board of Directors of the company. The transaction is expected to close on August 31, 2023. The company will pay an estimated issue expense of ¥1,550,000 and net proceeds will be ¥98,444,000 upon closing.