Yoshiharu Announces New Executives and Board Appointments
- Appointment of experienced executives with strong industry and financial backgrounds
- Strategic focus on U.S. and China market expansion
- Implementation of comprehensive operational and financial review
- CEO brings 20+ years of successful food service industry experience
- New CFO and Director bring combined 60+ years of accounting and financial expertise
- Temporary closure of all restaurant locations for three days
- Operational disruption during leadership transition and internal audit
- Need for accounting systems update suggests potential previous inadequacies
Insights
Yoshiharu's major leadership overhaul with temporary store closures signals potential operational restructuring amid financial system review.
Yoshiharu's announcement represents a comprehensive leadership reorganization with Ji-Won Kim becoming sole CEO, alongside new CFO John Oh and independent director Young-Soo Choi - both certified public accountants with extensive financial expertise. This executive restructuring comes with the concerning disclosure that all restaurant locations will temporarily close for approximately three days for an operational review, internal audit, and accounting system updates.
The simultaneous appointment of two accounting professionals with specific expertise in taxation, auditing, and financial compliance, coupled with the unusual step of closing all locations for an internal audit, suggests the company may be addressing underlying financial or operational issues. Kim's statement about a "recently strengthened balance sheet" and plans to "refocus and further improve top- and bottom-line growth" indicates potential previous difficulties that required correction.
The mention of "strategic expansion in the U.S. and China" reveals international ambitions that will require strong financial oversight - likely explaining the appointment of executives with cross-border accounting experience. Oh's specific expertise in SEC reporting and SOX-compliant internal controls suggests Yoshiharu may be enhancing its financial governance frameworks, potentially in response to compliance concerns or in preparation for more complex operations.
The temporary closure of all locations is particularly noteworthy, as such a drastic measure typically signals significant operational or accounting issues requiring immediate attention rather than routine management transition.
Ji-Won Kim to Serve as Sole Chief Executive Officer
Seasoned Public Accountants John Oh, New Chief Financial Officer, and Young-Soo Choi, New Independent Director, to Lead Comprehensive Strategic Initiatives
BUENA PARK, Calif., June 12, 2025 (GLOBE NEWSWIRE) -- Yoshiharu Global Co. (NASDAQ: YOSH) ("Yoshiharu" or the "Company"), a restaurant operator specializing in authentic Japanese ramen & rolls, today announced as part of an executive reorganization, the Board of Directors has appointed Ji-Won Kim to serve as sole Chief Executive Officer of the Company. In addition, the Board appointed John Oh as Chief Financial Officer. The Board also appointed Young-Soo Choi as an independent Director.
“Our new and accomplished executive team will enable Yoshiharu to fuel momentum and growth initiatives for our brand and shareholders,” said Ji-Won Kim, Director and Chief Executive Officer of Yoshiharu. “With strong revenue and recently strengthened balance sheet, we believe this is an opportunity to refocus and further improve to top- and bottom-line growth and pursue additional strategic expansion in the U.S. and China. Both James and Young-Soo are seasoned certified public accountants with decades of experience in taxation, auditing, and public finance.
“In tandem with the new appointments, all Yoshiharu restaurant locations will be temporarily closed for approximately three days as we conduct a review of store operations, perform an internal audit, and update the company’s accounting systems. Our normal operations are expected to resume shortly thereafter. We look forward to additional updates on our anticipated milestones in the weeks and months to come,” concluded Kim.
Ji-Won Kim is a seasoned leader with over 20 years of hands-on experience in the food service industry. He is a recognized expert in brand development and operations, having successfully launched and established multiple brands in the market, including the Macho Galbi restaurant brand. Mr. Kim has served as the Chief Executive Officer of Macho Galbi since April 2016 and in this role he led the implementation of franchise systems, menu and distribution management, and overall store operations, earning a strong reputation within the industry. In addition, in 2025, Mr. Kim was appointed Managing Director of BS1 Fund, an investment fund in Korea. Mr. Kim graduated from Hankyong University in 2006 with a B.A. in Food Engineering.
John (Ju Hwan) Oh is a seasoned certified public accountant with over 20 years of experience in tax planning, financial reporting, and regulatory compliance. From 2019 through the present, he worked as a certified public accountant at JH Professional Corporation. Mr. Oh specializes in ASC 740 income tax provisions, SEC reporting, and SOX-compliant internal controls for public and multinational companies. He has led cross-border accounting strategies, audit support, and IFRS transitions for clients across the U.S., South Korea, and Southeast Asia. His expertise bridges U.S. GAAP and IFRS standards, ensuring accurate and compliant financial disclosures.
Young-Soo Choi is a certified tax accountant with over 40 years of experience in taxation, auditing, and public finance. He served in the Korean National Tax Service for 24 years and has held executive roles in various accounting firms, including as a representative tax accountant at multiple firms. From July 2024 to the present, Mr. Choi has served as a Managing Tax Accountant at Hana Tax Corporation. From December 2015 until January 2024, Mr. Choi served as a Managing Tax Accountant at Able Tax Corporation. Mr. Choi has also acted as an audit committee member at several corporations, bringing deep expertise in internal controls and financial transparency.
About Yoshiharu Global Co.
Yoshiharu is a fast-growing restaurant operator and was born out of the idea of introducing the modernized Japanese dining experience to customers all over the world. Specializing in Japanese ramen, Yoshiharu gained recognition as a leading ramen restaurant in Southern California within six months of its 2016 debut and has continued to expand its top-notch restaurant service across Southern California and Las Vegas, currently owning and operating 15 restaurants.
For more information, please visit www.yoshiharuramen.com.
Forward Looking Statements
This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding our position to execute on our growth strategy, and our ability to expand our leadership position. These forward-looking statements include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in, or suggested by, these forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our filings with the SEC including our Form 10-K for the year ended December 31, 2024, and subsequent reports we file with the SEC from time to time, which can be found on the SEC's website at www.sec.gov. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Relations Contact:
Larry W Holub
Director
MZ North America
YOSH@mzgroup.us
312-261-6412
FAQ
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