XTOP Technology, Inc. announced a private placement of 880 common shares at a price of ¥30,681.818181 for gross proceeds of ¥26,999,999.99928 on October 10, 2017. The transaction will involve participation from new investor Image Information Inc. (JASDAQ:3803). Pursuant to the transaction, the investor will acquire 50% stake in the company. The transaction is expected to close on October 17, 2017. The transaction has been approved by the board of directors of the investor. The investor will subscribe shares through third party capital increase.