Tori Holdings Co., Ltd. (TSE:5856) announced a private placement of 405,000 treasury shares at ¥56 per share for gross proceeds of ¥22,680,000 on May 22, 2014. The transaction will involve participation form two individuals Hakobu Kojima and Hitoshi Tanaka, who will subscribe to 395,000 shares and 10,000 shares respectively. Hakobu Kojima is a probable candidate to the company's board of directors, and Hitoshi Tanaka is a probable candidate as the company's auditor.

The third-party allotment transaction is expected to close on June 9, 2014.