Nippon Hume Corporation (TSE:5262) announced a private placement of 117,300 common shares at a price of ¥798 per share for gross proceeds of ¥93,605,400 to new investor Tenox Corporation (JASDAQ:1905) on December 11, 2020. The company will issue 0.40% stake through third party allotment. As a part of the transaction the company will pay ¥200,000 in expenses and receive net proceeds of ¥93,405,400.

The transaction is expected to close on January 6, 2021. The transaction has been approved by the board of directors.