Yoshitsu Co., Ltd Welcomes New Institutional Shareholders
05 Février 2024 - 2:00PM
Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a
retailer and wholesaler of Japanese beauty and health products,
sundry products, luxury products, electronic products, as well as
other products in Hong Kong, mainland China, Japan, North America,
and the United Kingdom, is proud to announce that on January 30,
2024, Hudson Bay Capital Management LP (“Hudson Bay”) and seven
other institutional investors have become new beneficial owners of
the American Depositary Shares (“ADSs”) of the Company. The Company
believes that the joining of the institutional shareholders
demonstrates the Company’s strengthened capital forces for market
expansion around the world.
The Company’s previously announced successful
completion of the follow-on equity offering (the “Offering”) has
empowered it as the first Nasdaq listed Japanese company to
complete a follow-on offering after its initial public offering.
Notably, following the Offering, the Company believes that it has
been endorsed by Hudson Bay, a global investment management firm,
along with seven other institutional investors. Hudson Bay, the
2023 HFM U.S. Performance Award winner, manages approximately $9.7
billion assets, with a remarkable growth rate of 116.27% in Assest
Under Management (AUM) since December 2021.
Mr. Mei Kanayama, Principal Executive Officer of
Yoshitsu, commented, “It’s a momentous occasion for us to be the
first Nasdaq listed Japanese firm to undertake a follow-on equity
offering. Over the years, we’ve been committed to expanding our
market footprints globally, showcasing to the world the essence of
the Japanese lifestyle with our high-quality homegrown Japanese
products. We expect the successful Offering and the powerful
partners on board to inject strong impetus into our market
expansion in the U.S. market, pushing us forward in our journey of
sustainable development. We appreciate the trust and support of our
investors. In particular, we’ve been greatly encouraged by the
recognition from the reputable Hudson Bay and other institutional
investors. In response to their support, we plan to continue our
steps in executing our global vision and fostering new driving
forces for our long-term business growth.”
About Yoshitsu Co., Ltd
Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd
is a retailer and wholesaler of Japanese beauty and health
products, sundry products, luxury products, electronic products, as
well as other products in Hong Kong, mainland China, Japan, North
America, and the United Kingdom. The Company offers various beauty
products (including cosmetics, skincare, fragrance, and body care
products), health products (including over-the-counter drugs,
nutritional supplements, and medical supplies and devices), sundry
products (including home goods), luxury products (including branded
watches, perfume, handbags, clothes, and jewelry), electronic
products (including entertainment gaming products), and other
products (including food and alcoholic beverages). The Company
currently sells its products through directly-operated physical
stores, through online stores, and to franchise stores and
wholesale customers. For more information, please visit the
Company's website at https://www.ystbek.co.jp/irlibrary/.
Forward-Looking Statements
Certain statements in this press release are
forward-looking statements, within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in
the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements speak only as of the date they are made
and involve known and unknown risks and uncertainties and are based
on current expectations and projections about future events and
financial trends that the Company believes may affect its financial
condition, results of operations, business strategy, and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will,""expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to," or other similar expressionsThe
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
In addition, there is uncertainty about the further spread of the
COVID-19 virus, or the occurrence of another wave of cases, and the
impact it may have on the Company's operations, the demand for the
Company's products, global supply chains, and economic activity in
general. Although the Company believes that the expectations
expressed in these forward-looking statements are reasonable, it
cannot assure you that such expectations will turn out to be
correct, and the Company cautions investors not to put undue
reliance on forward-looking statements since actual results may
differ materially from the anticipated results, and encourages
investors to review other factors that may affect its future
results, including the risk factors discussed in the Company's
registration statement and in its other filings with the U.S.
Securities and Exchange Commission, available on the SEC’s website
at www.sec.gov.
For more information, please
contact:
Yoshitsu Co., LtdInvestor
Relations DepartmentEmail: ir@ystbek.co.jp
Ascent Investor Relations
LLCTina XiaoPresidentPhone: +1-646-932-7242Email:
investors@ascent-ir.com
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