Sanyodo Holdings Inc (JASDAQ:3058) announced a private placement of 60,000 treasury shares at ¥931 per share for gross proceeds of ¥55,860,000 on September 11, 2014. The company has signed an agreement with the investor. The shares will be issued to new investor Geo Holdings Corporation through third party allocation which will take 1% stake in the company in the transaction.

The company has signed an agreement in relation to the capital increase with the investor. The company will incur estimated issuance costs of ¥500,000 in the transaction and receive net proceeds of ¥55,360,000. The consumption tax is not included in the estimated amount of issuance cost.

The company will have 132,906 treasury shares after the transaction. The settlement date is September 30, 2014.