Yoshitsu Co., Ltd Welcomes Prometheus Capital Fund I, L.P. as a New Institutional Shareholder

Rhea-AI Summary

Yoshitsu Co., Ltd (Nasdaq: TKLF), a retailer of Japanese beauty and health products, announced that Prometheus Capital Fund I, L.P. acquired 2,063,300 ordinary shares, representing about 5.7% of its issued shares as of April 5, 2023. Prometheus Capital, the Fund's general partner, specializes in early-to-growth-stage investments across technology, media, and consumer sectors, managing $1 billion in assets. Yoshitsu's Principal Executive Officer, Mr. Mei Kanayama, expressed excitement regarding this new institutional investment, viewing it as a recognition of the company's brand and value creation potential for shareholders. Yoshitsu operates in various product sectors, including cosmetics, health products, and food, through physical and online stores along with wholesale channels.

Positive

• Prometheus Capital Fund I, L.P. acquired a significant 5.7% stake in Yoshitsu, indicating institutional confidence.
• The investment is seen as a validation of Yoshitsu's brand and potential to create shareholder value.

Negative

• None.

Tokyo, Japan, April 14, 2023 (GLOBE NEWSWIRE) -- Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, as well as sundry products and other products in Japan, today announced that, on April 5, 2023, Prometheus Capital Fund I, L.P. (the “Fund”) became the beneficial owner of 2,063,300 ordinary shares of the Company, which represented approximately 5.7% of the Company’s issued and outstanding ordinary shares.

Prometheus Capital GP Limited (“Prometheus Capital”) is the sole general partner of the Fund. Focused on early-to-growth-stage investment opportunities within the technology, media, and telecom and consumer sectors, Prometheus Capital manages four funds denominated in USD and RMB with total assets under management of $1 billion.

Mr. Mei Kanayama, Principal Executive Officer of Yoshitsu, commented, “We are excited to have Prometheus Capital Fund I, L.P. as our new institutional shareholder. This investment by the prestigious Prometheus Capital is a recognition of our brand and our ability to create value for shareholders.” 

About Yoshitsu Co., Ltd

Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd is a retailer and wholesaler of Japanese beauty and health products, sundry products, and other products in Japan. The Company offers various beauty products (including cosmetics, skin care, fragrance, and body care products), health products (including over-the-counter drugs, nutritional supplements, and medical supplies and devices), sundry products (including home goods), 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

All statements other than statements of historical fact 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 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 expressions. The 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 that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Yoshitsu Co., Ltd
Investor Relations Department
Email: ir@ystbek.co.jp

Ascent Investors Relations LLC

Tina Xiao
President
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com

FAQ

What recent investment did Prometheus Capital make in Yoshitsu (TKLF)?

Prometheus Capital Fund I, L.P. acquired 2,063,300 ordinary shares, representing approximately 5.7% of Yoshitsu's issued shares.

What does the investment by Prometheus Capital signify for Yoshitsu's stock (TKLF)?

The investment is viewed as a recognition of Yoshitsu's brand strength and potential for shareholder value creation.

When did Prometheus Capital acquire shares of Yoshitsu (TKLF)?

Prometheus Capital acquired the shares on April 5, 2023.