Science Arts, Inc. announced a private placement of 1,474,000 common shares at a price of ¥530 per share for the gross proceeds of ¥781,220,000 on October 15, 2024. The shares will be allotted through third party method of allotment. The transaction will include participation from new investor, JVCKENWOOD Corporation for 655,000 shares, Rakuten Group, Inc. for 819,000 shares.

As a part of the transaction, the company paid ¥14,387,000 as issuance expenses. The transaction has been approved by shareholders and is expected to close on October 31, 2024.