Sougou Shouken CO., Ltd. (JASDAQ:7850) announced a private placement of 70,000 treasury shares at ¥495 per share with existing investor, NITTOH Co., Ltd for gross proceeds of ¥34,650,000 on March 18, 2014. The company will issue the shares through third party allocation. On the same date, the board of directors of the company approved the transaction.

The investor will hold 4.57% stake in the company upon completion of the transaction. The disposal date for the transaction is April 15, 2014. The company will be left with 54,562 treasury shares upon completion of the transaction.