Tomita Electric Co.,Ltd. announced a private placement of 1,575 Stock Acquisition Rights at an issue price of ¥1,252 for a gross proceeds of¥1,971,900 on May 1, 2023. The transaction included participation from new investor, Daiwa Securities Co. Ltd. Each stock acquisition right is exercisable into 157,500 common share and will receive proceeds of ¥367,356,900 on post exercise of stock acquisition rights.

The stock acquisition rights are issued through a third party allotment method. The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 17, 2023.