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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) announced the opening of its ninth restaurant in Corona, California, set for April 21, 2023. This new outlet will offer a varied menu, including sushi and bento boxes, alongside its signature ramen dishes. This launch is part of Yoshiharu's ambitious plan to open at least five new restaurants in 2023, aiming to operate a total of 13 locations by year-end. The company has identified six additional potential locations as it continues its expansion strategy. President and CEO James Chae emphasized the strategic choice of Corona due to the rising popularity of Japanese cuisine and low competition in the area. The restaurant will operate daily from 11:30 a.m. to 9:00 p.m., extending to 10:00 p.m. on weekends.
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.
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