The Toa Reinsurance Company, Limited announced that it expects to receive ¥422.4 million in funding from The Shibusawa Warehouse Co., Ltd., East Japan Construction Surety Co., Ltd.
August 31, 2016
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The Toa Reinsurance Company, Limited announced a private placement of 640,000 treasury shares at ¥660 per share for gross proceeds of ¥422,400,000 on August 1, 2016. The company will pay various issue costs including advisory expenses and document creation expenses of ¥250,000 to receive net proceeds of ¥422,150,000. The transaction will include participation from new investors, The Shibusawa Warehouse Co., Ltd. (TSE:9304) for 590,000 shares and East Japan Construction Surety Co., Ltd. for 50,000 shares. The applications period is till August 23, 2016 with settlement date also as August 23, 2016.
The Shibusawa Warehouse Co., Ltd. is a Japan-based company mainly engaged in the operation of logistics and real estate business. The Company operates in two business segments. The Logistics segment is involved in the provision of warehouse storage and cargo handling operations, such as warehouse storage, warehouse loading and unloading of deposited cargo, and associated cargo handling such as distribution processing; port transport business for inboard cargo handling, coastal cargo handling, barge transport, shed storage, and associated cargo handling in ports; land transportation business that provides services such as lorry transportation and moving; international integrated transportation business, international air cargo transportation business and international transportation business for handling cargo; and logistics facility leasing, marine transportation and transportation business. The Real Estate segment is engaged in the leasing and management of office buildings.
The Toa Reinsurance Company, Limited announced that it expects to receive ¥422.4 million in funding from The Shibusawa Warehouse Co., Ltd., East Japan Construction Surety Co., Ltd.
THE SHIBUSAWA WAREHOUSE CO., LTD. 