ReDucate, Inc. announced a private placement of 1,001 shares at ¥100,000 per share for gross proceeds of ¥100,100,000 on May 12, 2016. The transaction will include participation from returning investors, Drecom Co., Ltd. for 500 shares and Rakuten, Inc. for 501 shares. The company has signed the share subscription contract with the investors.

The transaction will take place through third party allotment. As part of the transaction, Rakuten, Inc. will acquire 0.01% stake increasing its stake from 49.99% to 50% and the stake of Drecom Co., Ltd. will dilute from 50.01% to 50%. The company will add ¥50,050,000 to its capital.

The settlement date for the transaction is May 13, 2016.