PHARUMO, Inc. announced a private placement of 1,600 shares on September 27, 2019. The transaction will include participation from new investor, Mitsubishi Corporation (TSE:8058) for 1,300 shares and for 22.41%, and returning investor MTI Ltd. (TSE:9438) for 1,300 shares. Post the closing, MTI Ltd. (TSE:9438) will hold 55.17% stake in the company.

The shares will be issued through third partly allotment method. The payment date is October 15, 2019.