Tokyo, Japan, Oct. 27, 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 Hong Kong, mainland China, Japan, North America, and the United Kingdom, today announced that on October 18, 2023, the Company entered into a strategic cooperation agreement (the “Agreement”) with Tasly Holding Group Co., Ltd. (“Tasly”), a Chinese pharmaceutical conglomerate, to cooperate with the investment, research and development, and sales of health products globally. Yoshitsu expects this collaboration with Tasly to help solidify and grow Yoshitsu’s presence in the health product sector.
Yoshitsu and Tasly also plan to assist each other with the registration and approval procedures necessary for health products to be sold in Japan, mainland China, Hong Kong, Macau, and other overseas markets. Yoshitsu and Tasly aim to utilize their respective sales networks and logistics distribution systems to help each other improve their respective supply chain systems and distribution channels in international markets.
Mr. Mei Kanayama, the Principal Executive Officer of Yoshitsu Co., Ltd, commented, “We believe that this alliance with Tasly demonstrates our commitment to grow our presence in the health product sector. Through this partnership, we plan to innovate our offerings in the health product sector. We plan to maintain a long-term partnership with Tasly, which we believe will not only facilitate our investment and finance activities in the health product sector, but may also offer us opportunities to expand our sales and logistics system in both the Japanese market and overseas markets. Moving forward, we expect to continue to seek and foster partnerships that can support our blueprint for business expansion.”
About Tasly Holding Group Co., Ltd.
Tasly Holding Group Co., Ltd., founded in 1994, is a high-tech enterprise group. It focuses on the health industry with biopharmaceuticals development as its core business and biomedical engineering as an auxiliary business. Tasly is also engaged in medical rehabilitation and health maintenance and management services. Tasly ranks among the top 500 manufacturing enterprises in China, the top 500 private enterprises in China, and the top 100 leading enterprises in China's strategic emerging industries, according to China Enterprise Confederation and China Enterprise Entrepreneurs Association. Its core subsidiary enterprise, Tasly Pharmaceutical Group Co., Ltd., was listed on the Shanghai Stock Exchange in 2002. All information about Tasly has been reviewed and approved by Tasly Holding Group Co., Ltd. Additional information is available at https://en.tasly.com/.
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 Hong Kong, mainland China, Japan, North America, and the United Kingdom. The Company offers various beauty products (including cosmetics, skincare, 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
Certain statements 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 investor and media inquiries, please contact:
Yoshitsu Co., Ltd
Investor Relations Department
Email: ir@ystbek.co.jp
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
