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Yoshiharu Global Co. (NASDAQ:YOSH), a $24.79 million market cap company in the retail eating sector, has reported significant changes to its Board of Directors, according to a recent 8-K filing with the Securities and Exchange Commission. The company, which has seen its stock surge over 316% year-to-date according to InvestingPro data, is currently trading above its Fair Value estimate.
On May 22, 2025, Sungjoon Chae stepped down from his position as a board member and from all board committees. The departure was not due to any disagreement with the company’s management or Board.
Following this departure, the Board nominated Seongjin Kim and Ji-Won Kim for director roles. Seongjin Kim, an experienced attorney, will bring legal expertise to the board, particularly in state agency matters. Ji-Won Kim, known for his leadership in the food service industry, has been nominated to serve as both a director and the Co-Chief Executive Officer of Yoshiharu Global Co. His expertise is expected to contribute to the company’s strategic vision and growth, especially in global markets.
Ji-Won Kim has over two decades of experience, including a notable tenure as CEO of Macho Galbi since April 2016. His background in brand development and operations is seen as a valuable asset for Yoshiharu’s expansion efforts.
Seongjin Kim has been serving as an attorney at Shin & Kim LLC since December 2024 and has a history of handling legal matters in the defense sector, including time as a Prosecutor in the Corruption Investigation Office for High Ranking Officials.
These nominations come as part of Yoshiharu Global Co.’s ongoing efforts to strengthen its leadership and position in the market. The leadership changes come at a crucial time, as the company has achieved impressive revenue growth of 41.82% over the last twelve months, despite facing operational challenges with an EBITDA of -$2.12 million. The company has not disclosed any arrangements or understandings related to the nominations, and there are no familial ties or reportable transactions between the nominees and other company officers.
This announcement is based on a press release statement and contains forward-looking statements related to the company’s future plans and expectations. These statements are not guarantees of future performance and are subject to risks and uncertainties. InvestingPro analysis reveals several key challenges, including liquidity concerns with a current ratio of 0.65. Subscribers can access 8 additional ProTips and comprehensive financial metrics to better understand the company’s position and potential.
In other recent news, Yoshiharu Global Co. has taken significant steps to improve its financial position by converting $2.5 million of debt into equity and securing additional financing commitments totaling $1.65 million. These actions aim to enhance the company’s balance sheet and meet Nasdaq’s minimum stockholders’ equity requirement for continued listing. Additionally, Yoshiharu has announced a strategic move into the U.S. real estate market by partnering with Good Mood Studio and Wealthrail, investing $2 million for a 10% stake in the latter, a real estate tokenization platform. The company is also reshuffling its board of directors, with Yusil Yeo and Harinne Kim resigning, and new nominees Abe Lim and Jae-Hyo Seo set to stand for election. Furthermore, Yoshiharu has appointed Sungjoon Chae, an esteemed architect, to its board to support its expansion efforts. These developments reflect Yoshiharu’s ongoing efforts to diversify its operations and strengthen its governance. The company has expressed optimism about these changes, although it acknowledges the risks and uncertainties involved.
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