Gokurakuyu Holdings Co., Ltd. (JASDAQ:2340) announced a private placement of 2,400,000 common shares at JPY 793 per share for gross proceeds of JPY 1,903,200,000 on July 10, 2017. Existing investor Harvest Premier Investment Corporation will acquire 1,160,000 shares for ¥919,880,000. Spring of Gold Hotel Investment and Management Company Limited will acquire 600,000 shares for ¥475,800,000, Jinping Wu will acquire 350,000 shares for ¥277,550,000, and Kuze Co., Ltd. (JASDAQ:2708) will acquire 300,000 shares for ¥237,900,000.

The estimated amount of issue expenses were ¥9,967,000. Harvest Premier Investment Corporation will hold 19.98% stake, Spring of Gold Hotel Investment and Management Company Limited will hold 3.61% stake, Jinping Wu will hold 2.11% stake , and KUZE Co., Ltd. will hold 1.81% stake after the transaction. The transaction is expected to close on August 4, 2017.