Yamashita Medical Instruments Co.,Ltd. (TSE:3022) announced a private placement of 47,533 shares at a price of ¥1,714 per share for gross proceeds of ¥81,471,562 on September 28, 2017. The transaction will include participation from new investor, Hikari Tsushin, Inc. (TSE:9435) for 1.86% stake in the company. The shares are issued through third party allotment method.

The expected closing date is October 20, 2017. The company will incur issue cost which mainly includes advisory fees and securities registration statement document creation expenses, etc of ¥1,000,000, resulting in net proceeds of 80,471,562. The transaction has been approved by the board of directors of the company.