Kodama Chemical Industry Co.,Ltd. (TSE:4222) announced a private placement of 7,235 1st series warrants at a price of ¥530 per warrant for gross proceeds of ¥3,834,550 on November 14, 2016. The transaction will include participation from existing investor Advantage Partners, LLP. Each warrant can be exercised into 1,000 common shares of the company at an exercise price of ¥54 per warrant. The company will receive ¥390,690,000 from the exercise of the warrants. The exercise period of the warrants will be from December 1, 2016 to November 30, 2018. The warrants will be issued by third party allotment. The company will incur issue costs includes registration taxes, judicial scrivener, and legal expenses ¥7,600,000, warrant fair value calculation fees to Akasaka International Accounting Co., Ltd. for ¥2,000,000, inspection fees related to antisocial forces for ¥600,000.