Yoshiharu Announces Market Expansion Plans into the Korean BBQ Segment

Rhea-AI Summary

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.

Positive

• Expansion into the growing Korean BBQ market segment
• Potential for increased market share and revenue streams
• Synergies with existing ramen business, including shared resources and ingredients
• Opportunity for cross-promotion and brand expansion
• Leveraging established industry experience and supply chain network

Negative

• Potential risks associated with entering a new market segment
• Increased competition in the Korean BBQ space
• Possible dilution of focus from core Japanese ramen business

Korean BBQ Synergies with Existing Ramen Business to Drive Expanding Market Opportunity and Footprint in High Growth Category

BUENA PARK, Calif., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Yoshiharu Global Co. (NASDAQ: YOSH) ("Yoshiharu" or the "Company"), a restaurant operator specializing in authentic Japanese ramen & rolls, today announced the planned entry into the lucrative and growing Korean BBQ (“KBBQ”) category.

Through active and strategic conversations with KBBQ store operators and the investment community, Yoshiharu has identified a growing trend of demand for KBBQ cuisine, predominantly in Southern California, as the popularity of Korean street food has expanded American’s rising appetites for Korean BBQ. KBBQ is now a popular dining experience in the region, and is considered an integral part of the region's culture and culinary scene. The communal and interactive nature of KBBQ, with its extensive menus and relatively affordable prices, is a large part of this appeal, with Yelp’s Trend Expert stating that Korean restaurants are on the rise.

Having operated in the restaurant sector since 2016, Yoshiharu has leveraged its extensive industry experience and expertise to build a robust network of supply chain stakeholders essential for successful restaurant operations. Recognizing the synergies between its existing suite of culinary offerings and the KBBQ concept, the Company plans to capitalize on the synergies of resources and ingredients for both segments to enhance purchasing power, attract a wider audience, and explore cross-promotion opportunities to further solidify and expand the Yoshiharu brand.

“I am excited to announce our new venture into the growing Korean BBQ market, a complimentary addition to our ramen business,” said James Chae, Yoshiharu’s President, CEO, and Chairman of the Board. “Through active discussions with KBBQ investors and store owners, it is clear that there is a significant market opportunity for Yoshiharu to tap into and establish a strong footprint. With our robust and established network of restaurant industry stakeholders, we recognize the crossover appeal between our existing offerings and the KBBQ concept, which will serve as a solid foundation. We look forward to expanding our restaurant portfolio and delivering exceptional dining experiences to an even broader audience.”

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 14 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, 2023, 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. Such risks, uncertainties, and other factors include, but are not limited to: the risk that our plans to maintain and increase liquidity may not be successful to remediate our past operating losses; the risk that we may not be able to successfully implement our growth strategy if we are unable to identify appropriate sites for restaurant locations, expand in existing and new markets, obtain favorable lease terms, attract guests to our restaurants or hire and retain personnel; that our operating results and growth strategies will be closely tied to the success of our future franchise partners and we will have limited control with respect to their operations; the risk that we may face negative publicity or damage to our reputation, which could arise from concerns regarding food safety and foodborne illness or other matters; the risk that that minimum wage increases and mandated employee benefits could cause a significant increase in our labor costs; and the risk that our marketing programs may not be successful, and our new menu items, advertising campaigns and restaurant designs and remodels may not generate increased sales or profits. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. 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

What new market segment is Yoshiharu (YOSH) planning to enter?

Yoshiharu (YOSH) is planning to enter the Korean BBQ (KBBQ) market segment, expanding beyond its current focus on Japanese ramen and rolls.

Why is Yoshiharu (YOSH) expanding into the Korean BBQ market?

Yoshiharu is expanding into the Korean BBQ market due to its growing popularity, particularly in Southern California, and the potential synergies with its existing ramen business.

How does Yoshiharu (YOSH) plan to leverage its existing business for the KBBQ expansion?

Yoshiharu plans to capitalize on synergies between its existing business and KBBQ by sharing resources and ingredients, enhancing purchasing power, and exploring cross-promotion opportunities.

When did Yoshiharu (YOSH) announce its plans to enter the Korean BBQ market?

Yoshiharu announced its plans to enter the Korean BBQ market on September 26, 2024.