Shirohato Co., Ltd. (JASDAQ:3192) announced that it has signed a business and capital alliance with a new investor Odakyu Electric Railway Co., Ltd. (TSE:9007) for the private placement of 963,400 common shares at a price of ¥520 per share for gross proceeds of ¥500,968,000 on October 31, 2016. The securities will be issued by way of third party allotment. Pursuant to the transaction, the investor will acquire a stake of 19.99% in the company.

The transaction will close on November 18, 2016.