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Yoshiharu Global Co. (NASDAQ:YOSH) is a rapidly growing restaurant operator based in California, specializing in authentic Japanese ramen. The company also offers a range of other Japanese cuisines, including sushi and bento boxes, through its chain of restaurants. Founded in 2016, Yoshiharu quickly gained recognition and now operates 11 restaurants across Southern California, with plans to expand further.
In recent developments, Yoshiharu has entered into a Memorandum of Understanding to acquire Jjanga LLC, HJH LLC, and Ramen Aku LLC in Las Vegas, Nevada. This strategic move is expected to bolster Yoshiharu's presence and revenue, aligning with its growth strategy to operate 13 restaurants by the end of the year. The acquisitions are anticipated to contribute over $6 million in annual gross revenue, enhancing the company's seafood-centric offerings and ramen portfolio.
Yoshiharu's financial performance has shown positive trends. For the third quarter of 2023, the company reported a 14.3% increase in revenue to $2.0 million, driven by the successful launch of a new restaurant in Corona and diverse menu offerings. The company is focusing on improving its bottom line by managing cash burn rates and optimizing working capital.
The company recently announced a reverse stock split at a 1-for-10 ratio, effective November 27, 2023, as part of its plan to regain compliance with Nasdaq's Minimum Bid Price Requirement. This move is expected to reduce the number of issued shares and potentially increase the stock price, making it more attractive to investors.
Looking ahead, Yoshiharu plans to leverage its newly acquired assets and strategically open new locations to drive top-line growth. With a strong focus on maintaining quality and customer satisfaction, the company aims to sustain its financial resilience and expand its market presence. For more information, please visit www.yoshiharuramen.com.
Yoshiharu Global Co. (NASDAQ: YOSH) reported strong Q3 2024 results with revenues increasing 49% to $3.0 million and nine-month revenues up 36% to $9.2 million. The company expanded to 15 locations with a new restaurant in San Clemente, CA, and has 2 more under construction. Strategic partnerships were established in China's Sichuan and Liaoning provinces. The company secured a $1.0 million private placement to enter the Korean BBQ segment. Despite revenue growth, the company reported a Q3 net loss of $1.2 million, wider than the $0.9 million loss in the prior year period.
Yoshiharu Global Co. (NASDAQ: YOSH) announced the grand opening of its new restaurant in San Clemente, CA, on October 31, 2024, marking its 15th location with 2 more under construction. The new venue, located at Ocean View Plaza, will uniquely offer high-end sushi and sashimi alongside signature ramens. The location benefits from high I-5 visibility, attracting over 3 million visits annually and serving an affluent area with average household incomes exceeding $145,000. Additional locations are planned to open in Menifee, CA (December 2024) and Ontario, CA (January 2025), following recent expansions into China, Las Vegas, and Korean BBQ segment.
Yoshiharu Global Co. (NASDAQ: YOSH), a Japanese ramen & rolls restaurant operator, has signed a non-binding Memorandum of Understanding (MoU) with Chengdu Octaday Entertainment Group for a Master License Agreement in Sichuan Province, China. This partnership aims to introduce Yoshiharu's cuisine in multiple hotel locations across the province, home to over 83 million people.
The agreement follows Yoshiharu's recent partnership to open a flagship restaurant in Shenyang, China, demonstrating the company's international growth momentum. The collaboration with Chengdu Octaday Entertainment Group, which operates 30 corporate-owned and managed hotels in Sichuan, presents opportunities for Yoshiharu to expand its presence in hotels, theme parks, and other attractions.
Yoshiharu Global Co. (NASDAQ: YOSH) has entered a non-binding MoU with Xing Sheng Group to open its first international flagship restaurant in Shenyang, China. The agreement, through a Master License Agreement for Liaoning Province, will see Yoshiharu partner with Shenyang Yongsheng Seven Stars Tourism Development Co. to develop a location within China's largest water park currently under construction.
This strategic move follows Yoshiharu's recent expansion into Las Vegas and aims to introduce the brand to the Chinese market. Shenyang, the capital of Liaoning Province with a population of over 43 million, offers a prime opportunity for Yoshiharu to cater to both local residents and tourists. The company views this partnership as a potential springboard for further expansion across China, leveraging Xing Sheng Group's network of 17 subsidiaries in major Chinese cities.
Yoshiharu Global Co. (NASDAQ: YOSH) has secured a $1.0 million private placement investment from an accredited investor to fund its expansion into the Korean BBQ (KBBQ) segment. The company, known for authentic Japanese ramen & rolls, plans to leverage synergies between its existing culinary offerings and the KBBQ concept. This strategic move aims to capitalize on the growing demand for KBBQ cuisine, particularly in Southern California.
Yoshiharu intends to utilize its industry experience, expertise, and established supply chain network to enhance purchasing power, attract a wider audience, and explore cross-promotion opportunities. The company's CEO, James Chae, emphasized that this investment will allow Yoshiharu to establish a footprint in the growing Korean BBQ market and expand the brand's leadership in the restaurant industry.
Yoshiharu Global Co. (NASDAQ: YOSH) has announced plans to enter the Korean BBQ (KBBQ) market, expanding beyond its current focus on Japanese ramen and rolls. This strategic move aims to capitalize on the growing popularity of Korean cuisine, particularly in Southern California. The company sees synergies between its existing business and KBBQ, including shared resources, ingredients, and cross-promotion opportunities.
Yoshiharu plans to leverage its established industry experience and supply chain network to support this expansion. The company's CEO, James Chae, expressed excitement about the venture, citing active discussions with KBBQ investors and store owners that revealed significant market potential. This expansion is expected to broaden Yoshiharu's audience and strengthen its brand presence in the restaurant industry.
Yoshiharu Global Co. (NASDAQ: YOSH) reported its Q2 2024 financial results, showing significant growth and operational improvements. Key highlights include:
- Revenue increased 50.5% to $3.3 million in Q2 and 30.9% to $6.1 million for H1 2024
- Acquired three profitable Las Vegas restaurants, boosting annual revenues by $6 million
- Operating loss improved to $0.9 million in Q2 and $1.7 million in H1
- Restaurant-level contribution increased to $668,000 for H1 2024
- Cash balance of $1.2 million as of June 30, 2024
The company is focused on cost management, implementing kiosks and cooking robots to reduce labor costs, and plans to open another California restaurant soon.
Yoshiharu Global Co. (NASDAQ: YOSH), a California-based restaurant operator specializing in Japanese ramen, announced it received a notification from the Nasdaq Listing Qualifications Staff on June 21, 2024. The notice states that Yoshiharu has not filed its Form 10-Q for the quarter ending March 31, 2024, thus failing to comply with Nasdaq's Listing Rule 5250(c)(1). The company has 60 days to submit a compliance plan. If accepted, Yoshiharu may get an extension up to December 16, 2024. In case the plan is rejected, Yoshiharu can appeal before a Hearings Panel. CEO James Chae highlighted the delay was due to an auditor transition and assured ongoing efforts to file the report and maintain the Nasdaq listing.
Yoshiharu Global Co. (NASDAQ:YOSH), a California-based restaurant operator specializing in Japanese ramen, has completed its acquisition of three Las Vegas restaurants for $3.6 million. The purchase involved a mix of cash, promissory notes, and convertible notes, giving the seller an option to convert debt into YOSH common shares. The seller will continue as managing director of the acquired restaurants. Yoshiharu expects these restaurants to generate $6 million in annual revenue in 2024 and aims to break even in the latter half of 2024, with profitability projected for 2025.
Yoshiharu Global Co. (NASDAQ:YOSH) announced an extension for its quarterly filing due to issues with its former auditor, BF Borgers CPA PC. The company has filed a Form NT 10-Q for the extension and is in the process of hiring a new PCAOB-compliant audit firm. Yoshiharu aims to secure the new auditor by the end of this week and plans to re-audit its 2023 and 2022 financial statements. This re-audit is anticipated to be completed by June 2024.
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