The Toa Reinsurance Company, Limited announced a private placement of 648,000 common shares at a price of ¥660 per share for gross proceeds of ¥427,680,000 on February 24, 2017. The transaction will include participation from Maruzen Showa Unyu Co., Ltd. (TSE:9068), The Daito Bank, Ltd. (TSE:8563), and Niyac Corporation for 454,000 shares, 151,000 shares, and 43,000 shares respectively. The company will incur issue expenses of ¥250,000 in the transaction.

The application and the payment date of the transaction is March 17, 2017. The transaction has been approved at its ordinary general meeting of the shareholders.