Washoku Works Co., Ltd. announced that it expects to receive ¥19 million in funding from Uoriki Co., Ltd.
May 29, 2016
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Washoku Works Co., Ltd. announced that it intends to complete a private placement of 190 common shares with new investor Uoriki Co., Ltd. (TSE : 7596) at ¥100,000 per share for gross proceeds of ¥19,000,000 on May 30, 2016. As part of the round, the investor will acquire 19.2% stake in the company through third party allocation method. The transaction is subject to shareholders’ approval of the company on June 6, 2016. The settlement date and contract conclusion date is June 30, 2016. The board of directors of the investor approved the transaction.
UORIKI CO., LTD. is a Japan-based company mainly engaged in the retail business of fresh fish and sushi, wholesale business of fishery products such as fresh fish, as well as food and beverage business. The Company operates through three business segments. The Retail segment is involved in the sale of fresh fish and sushi to general consumers mainly in metropolitan area station buildings, department stores and supermarkets. The Restaurant segment is involved in the operation of sushi restaurants, seafood izakaya and a new business category named Fishoku Shokudo. The Wholesale segment is involved in the sale of products to food supermarkets, local consignees, restaurants, and other domestic and overseas trading companies. The Company is also involved in the tenant business.
UORIKI CO., LTD. 
