(Note: Yoshitsu Co., Ltd., announced early Monday, Jan. 10, 2022, that it had priced its IPO at $4 – the low end of its $4-to-$6 range – on 6 million American Depositary Shares (ADS), to raise $24 million. The pricing date was Jan. 7, 2022, SEC records show. The stock started trading on the NASDAQ on Tuesday, Jan. 18, 2022. Yoshitsu filed confidentially for an IPO on Dec. 23, 2020.)

Headquartered in Tokyo, we are a retailer and wholesaler of Japanese beauty and health products, as well as other products. We offer approximately 12,400 stock keeping units (“SKUs”) of beauty products, including cosmetics, skin care, fragrance, and body care, among others, 3,600 SKUs of health products, including OTC drugs, nutritional supplements and medical supplies and devices, and 7,900 SKUs of other products, including lingerie, home goods, food and alcoholic beverages.

We currently sell our products through directly operated physical stores, through online stores, and to franchise stores and wholesale customers. Leveraging our deep understanding of consumer needs and preferences, we have rapidly expanded our operations and opened three new directly operated physical stores and 10 new online stores, added four franchise stores, and developed 29 new wholesale customers during the fiscal year ended March 31, 2020; we opened five new online stores, added a franchise store in Canada, and developed 30 new wholesale customers during the fiscal year ended March 31, 2021. As of June 30, 2021, our distribution channels consisted of (i) 10 directly operated physical stores in Japan, (ii) 22 online stores through our websites and various e-commerce marketplaces in Japan and China, and (iii) nine franchise stores in the U.S., six franchise stores in Canada, two franchise stores in Hong Kong, one franchise store in the U.K., and approximately 116 wholesale customers in Japan and other countries, including China, the U.S., and Canada. 

Note: Revenue and net income figures are for the fiscal year that ended March 31, 2021.