Forval RealStraight Inc. (JASDAQ:9423) announced a private placement of 1,333,400 shares at a price of ¥60 per share for gross proceeds of ¥80,004,000 on February 12, 2015. The transaction will involve participation from existing investor Forval Corporation, which will invest for 1,166,700 shares and Koji Yoshida, a director of the company, who will invest for 166,700 shares. Forval Corporation will hold 51.87% and Koji Yoshida will hold 0.72% stake in the company upon completion of the transaction.

The company will receive net proceeds of ¥79,304,000 after deducting issuance expenses of ¥700,000 including registration expenses of ¥280,000 and trust processing fees of ¥420,000. On the same date, the transaction was approved by the board of directors of the company. The shares will be issued through third party allocation.

The transaction will close on March 2, 2015.