fonfun corporation (JASDAQ:2323) announced a private placement of 205,000 common shares at a price of ¥439 per share for gross proceeds of ¥89,995,000 on November 25, 2015. New investor, Musashino Co., Ltd. will subscribe 102,500 shares to acquire 21.32% stake. Other new investor, NSKK Holdings Co., Ltd. will subscribe 102,500 shares to acquire 3.58% stake in the company.

The investors will subscribe shares through third party allocation. As part of the round, the investors will acquire a total of 24.9% stake in the company. The company will pay ¥250,000 as expenses for research on the investors, ¥1,200,000 as document creation expenses, ¥320,000 as registration and license tax, and ¥300,000 for other expenses including judicial scrivener compensation, trust commission, public notice expenses, etc.

The company will receive net proceeds of ¥87,925,000. The payment date is December 10, 2015.