Pickles Corp. (JASDAQ:2925) announced a private placement of 342,000 treasury shares at ¥1,329 per share for gross proceeds of ¥454,518,000 on April 28, 2015. The transaction will take place through third party allotment.

The transaction will include participation from The Musashino Bank, Ltd. which will purchase 100,000 shares; Mitsubishi Shoji Foodtech Co.,Ltd. which will purchase 75,000 shares; Ajinomoto Co., Inc. which will purchase 50,000 shares, Kohsoku Corporation will purchase 37,000 shares, Osaka Sealing Printing Co., Ltd. will purchase 30,000 shares, Food Touch Co., Ltd. will purchase 30,000 shares, Marusen Co., Ltd. will purchase 10,000 shares, and other investors. The payment date is May 15, 2015. The company will incur ¥5,000,000 as issuance cost bringing the net proceeds for the transaction to ¥449,518,000.

The transaction has been approved by the board of directors of the company.