Otsuka Kagu, Ltd. (JASDAQ:8186) announced that it has entered into a capital alliance agreement with new investor Yamada Denki Co., Ltd. (TSE:9831) for private placement of 30,000,000 common shares at a price of ¥145.8 per share for gross proceeds of ¥4,374,000,000 on December 12, 2019. The investor will acquire for a majority stake in the company through third party capital allotment method. Post the completion of the transaction, the investor will hold 51.74% stake in the company.

The transaction has been approved by the board of directors of the company, and is expected to close on December 30, 2019.