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Vestand Inc., formerly Yoshiharu Global Co. (YOSH), reports developments tied to its transition from a Japanese ramen and rolls restaurant operator into an asset-backed platform with real estate and digital-asset initiatives. Company news has covered the completed corporate name and ticker change to VSTD, financing for real estate expansion, and strategic updates involving real estate development and a crypto treasury strategy.
Other recurring announcements include executive and board appointments, internal-control initiatives, Nasdaq listing compliance, capital-structure actions such as a forward stock split, and updates on the legacy restaurant business and its financial results.
Yoshiharu Global Co. (NASDAQ:YOSH) will soft launch its new restaurant concept, Yoshiharu Ramen & Izakaya, on April 7, 2023, in La Mirada, CA, with a grand opening on April 14, 2023. The new menu will feature signature ramen dishes and a selection of izakaya options, including various alcoholic beverages like Sake and Shochu. The restaurant will operate from 5:00 p.m. to 12:00 a.m. Sunday through Thursday and until 2:00 a.m. on weekends. Yoshiharu aims to align with current dining trends while expanding its footprint, planning new locations in Corona and Garden Grove shortly. According to President and CEO James Chae, this new concept addresses customer desires for a social dining experience and reflects the company's commitment to adapting to evolving culinary preferences, aiming to enhance customer satisfaction.
Yoshiharu Global Co. (NASDAQ:YOSH) reported its fourth quarter and full-year 2022 results, with a 21% revenue increase to $2.5 million for Q4, driven by consumer traffic recovery and increased menu prices. The operating loss improved to $1.1 million, while net loss also reduced to $1.1 million. Annual revenue rose 27% to $8.3 million, attributed to new openings and sales growth in existing locations. However, total operating expenses increased to $8.1 million, impacting profitability. Cash reserves grew significantly to $6.5 million following the IPO. The company plans to expand to 13 locations by the end of 2023.
Yoshiharu Global Co. (NASDAQ:YOSH), a California-based restaurant specializing in authentic Japanese ramen, announced a Valentine's Day promotional menu available from February 11-14, 2023. Highlights include the Lobster Ramen and a new signature dish, Tonkotsu Crispy Ramen with Spicy Tuna Lobster, offered as a combination plate for $45. Post-promotion, these dishes will be sold individually. CEO James Chae emphasized the company's commitment to innovative menu offerings and expanding their modernized Japanese dining experience. Yoshiharu operates eight restaurants across Southern California, having gained recognition since their 2016 debut.
Yoshiharu Global Co. (Nasdaq:YOSH) reported its Q3 2022 results, highlighting operational growth despite a slight revenue decline. While revenue fell to $1.8 million due to restaurant closures for renovations, the company saw a 35% increase in per store sales after launching a new menu. The company plans to open eight new restaurants in the next 13 months, starting with a location in Corona, CA. However, net loss grew to $1.5 million compared to a slight profit last year, with overall losses reaching $2.4 million for the nine-month period.
Yoshiharu Global Co. (NASDAQ:YOSH), specializing in authentic Japanese ramen, announced new menu items available at all locations starting October 1, 2022. The refreshed menu includes new appetizers, sushi rolls, and a ramen bowl, aimed at enhancing the dining experience. A soft launch at two locations led to positive customer feedback, with an average sales increase of 10%. The company plans to continue developing seasonal menu items, positioning itself for growth and customer engagement.
Yoshiharu Global Co. (NASDAQ:YOSH) has appointed Gateway Group as its strategic financial communications partner to enhance investor relations and corporate messaging. The collaboration aims to refine the company's outreach efforts, engage with institutional investors, and organize roadshows. CEO James Chae highlighted the importance of this partnership in raising Yoshiharu's profile as it expands its restaurant locations and franchise program, aiming to solidify its position in the market for authentic Japanese ramen.
Yoshiharu Global Co. (Nasdaq: YOSH), a California-based restaurant operator, has announced the closure of its initial public offering (IPO) involving 2,940,000 shares of Class A common stock priced at $4.00 per share. The shares commenced trading on the Nasdaq Capital Market on September 9, 2022. This IPO was managed by EF Hutton, a division of Benchmark Investments. A registration statement related to the offering was filed and made effective on September 8, 2022 by the SEC. Yoshiharu specializes in modern Japanese dining, notably ramen, and operates 8 restaurants in Southern California.
Yoshiharu Global Co. (Nasdaq: YOSH) has announced the pricing of its upsized initial public offering (IPO), set at $4.00 per share, with 2,940,000 shares being offered. The underwriters also have a 45-day option to purchase an additional 441,000 shares. Trading on the Nasdaq Capital Market is scheduled to begin on September 9, 2022, and the offering is expected to close around September 13, 2022. EF Hutton is the sole book-running manager for this offering.