Otec Corporation (JASDAQ:1736) announced a private placement of 102,000 treasury shares with new investor Master Trust Bank of Japan, Ltd., Investment Arm at ¥718 per share for gross proceeds of ¥73,236,000 on February 7, 2014. The company will issue the shares by way of third party allocation. The investor will acquire 1.9% stake in the company through this transaction. The company will have 425,121 outstanding treasury shares upon completion of the transaction. On the same date, the board of directors of the company approved the transaction. The transaction is expected to close on February 25, 2014.

On February 25, 2014, Otec Corporation closed the transaction.