Nihon Nohyaku Co., Ltd. (TSE:4997) announced a private placement of 20,895,600 common shares at ¥670 per share for gross proceeds of ¥14,000,052,000 on August 21, 2018. The transaction will involve participation from returning investor Adeka Corporation (TSE:4401). Post the transaction, the investor stake will increase from 23.1% to 51% in the company.

The company will pay expenses for registration-related expenses, and other expenses. The transaction has been approved by the board of directors. The company issued securities through third party allotment method.