Yoshitsu Co., Ltd (Nasdaq: TKLF), Tokyo, Japan: Yoshitsu Co.

Company: Yoshitsu Co., Ltd (Nasdaq: TKLF) Tokyo, Japan
Company Description: 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 product
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Retail - Medium-size

Nomination Title: Yoshitsu Co.

Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2022, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):

Total 168 words used.

Founded in 2006, Yoshitsu Co.,Ltd offers international consumers access to a diverse selection of high-quality Japanese brands such as Shiseido, Sato, Kao, Kosé and many others. In turn, these brands gain increased exposure on the broader market. Yoshitsu has further established strong relationships with 112 suppliers in the cosmetics and pharmaceutical industries.

Today, Yoshitsu carries around 35,000 SKUs in cosmetics, skincare, fragrance, and body care products along with 28,400 SKUs of health products, including OTC drugs, supplements, and medical supplies. Yoshitsu also offers 34,800 sundry products in home essentials, and 16,300 products in other categories, such as food and alcoholic beverages.

As of Feb. 28, 2023, Yoshitsu operates 11 physical stores in Japan and seven in Hong Kong. Globally, Yoshitsu operates 21 online stores, 14 franchise stores across the U.S., Canada and U.K., as well as various e-commerce marketplaces in Japan, China, and Korea, In FY2023, around 542,276 customers visited Yoshitsu’s physical stores and 615,571 visited its online stores.
If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2022 that you wish to bring to the judges' attention (up to 250 words):

Total 205 words used.

Yoshitsu raised US$25 million when it successfully listed on Nasdaq on February 18, 2022, setting the foundation to accelerate its global expansion strategy.

Despite challenges in the retail industry, Yoshitsu reported substantial revenue of US$169.7 million in FY2023 ended March 31, 2023. A standout achievement during this period was the significant increase in net income, which skyrocketed by 496.6% to US$2.0 million in the first half of FY2024 from US$0.3 million for the same period of last year. The financial success was partly because Yoshitsu drastically expanded its product range across beauty, health, and other categories to meet the evolving consumer demand.

Continuing the momentum, Yoshitsu turned its focus to the domestic Japanese market in FY2023 to overcome pandemic-related disruptions. It grew its franchise and wholesale customer business, which accounted for 81% of its total revenue in FY2023. And by adopting an asset-light business model, Yoshitsu achieved a 99% revenue increase from directly operated physical stores in the first half of FY2024. Furthermore, Yoshitsu opened new direct-sale stores and flagship locations worldwide to enhance brand awareness and market penetration.

On Jan. 30, 2024, Yoshitsu completed a follow-on equity offering, becoming the first Nasdaq-listed Japanese company to do so after its IPO.
If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):

Total 106 words used.

Yoshitsu was the first Japanese company to complete a follow-on equity offering post-IPO on Nasdaq. The offering raised approximately US$4 million through the sale of 5,970,152 American Depositary Shares and the issuance of purchase warrants. By partnering with prestigious institutional investors, Yoshitsu cemented its market potential and confirmed its strategic direction, setting a new standard for Japanese companies attracting international investment.

These strategic and financial milestones transformed Yoshitsu from a regional player to a global contender, outpacing its prior growth and that of its competitors. It also highlighted Yoshitsu's advantages in leveraging global financial markets to bring Japanese lifestyle products to a global audience.
You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):

Total 52 words used.

1) Company’s official website: https://www.ystbek.co.jp

2) Follow-on Deal Closing PR:https://finance.yahoo.com/news/yoshitsu-co-ltd-announces-closing-210500031.html

3) Chairman’s Letter in 2024: https://finance.yahoo.com/news/yoshitsu-co-ltd-issues-2024-130000766.html

4) Earnings PR:

- 1H2024: https://finance.yahoo.com/news/yoshitsu-co-ltd-reports-first-110000643.html

-FY2023: https://finance.yahoo.com/news/yoshitsu-co-ltd-reports-fiscal-210000621.html

5) Third-party Media: https://www.meigutv.com/yoshitsu

Attachments/Videos/Links:

Yoshitsu Co.
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