Nippon Techno Lab Inc. (SPSE:3849) announced a private placement of 35,000 common shares issued at ¥2,000 per share for gross proceeds ¥70,000,000 on August 30, 2019. The transaction will include participation from Think Laboratory Co.,Ltd. Out of the total gross proceeds ¥35,000,000 will be transferred to capital reserve and rest of the proceeds will be added to the registered capital of the company. Post the closing of the transaction, the investor will hold 2.02% stake in the company. The company will pay the issue expenses of ¥600,000 which includes ¥100,000 for attorney fees and ¥200,000 for registration costs and other including stock management fee and external fee for ¥300,000. The company will receive net proceeds of approximately ¥69,400,000. The company will issue the shares through third party allotment. The transaction was approved by the board of directors of the company. The company expects to close the transaction on September 17, 2019.