TOKYO, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Yoshitsu Co., Ltd (“Yoshitsu” or the “Company”) (Nasdaq: TKLF), a retailer and wholesaler of Japanese beauty and health products, sundry products, luxury products, electronic products and other products in Hong Kong, Japan, North America, and the United Kingdom, today announced plans to change its corporate name to “Tokyo Lifestyle Co., Ltd.” as part of its growth strategy in response to evolving market conditions and to strengthen its brand identity. The change will take effect on October 31, 2024.

The Company’s English name will be changed from “Yoshitsu Co., Ltd” to “Tokyo Lifestyle Co., Ltd.,” and its Japanese name, “吉通貿易株式会社,” will be changed to “東京生活館株式会社,” with no changes to its current logo or existing ticker symbol, TKLF. The Company will launch a new company website at https://www.tokyolifestyle.com. This rebranding will not impact or delay any current or future orders.

Mr. Mei Kanayama, Principal Executive Officer of Yoshitsu, commented, “In light of changing market conditions and the global recognition of our flagship brand, ‘Tokyo Lifestyle,’ we have made this important decision to broaden our operations while enhancing brand awareness and influence. This name change will better align with our core proprietary brand and more clearly reflect our product concept and image. We believe this rebranding will support our long-term growth strategy. Over the coming weeks, we will implement a series of plans to reflect the name change.”

About Yoshitsu Co., Ltd

Headquartered in Tokyo, Japan, Yoshitsu Co., Ltd is a retailer and wholesaler of Japanese beauty and health products, sundry products, luxury products, electronic products and other products in Hong Kong, 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. 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.