Yoshiharu is a fast-growing restaurant operator and was borne out 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 our 2016 debut and has continued to expand our top-notch restaurant service across Southern California, currently owning and operating 8 restaurant stores with an additional 1 new restaurant store under construction/development and an additional 8 restaurant stores expected to open in 2022. We take pride in our warm, hearty, smooth, and rich bone broth, which is slowly boiled for over 12 hours. Customers can taste and experience supreme quality and deep flavors. Combining the broth with the fresh, savory, and highest-quality ingredients, Yoshiharu serves the perfect, ideal ramen, as well as offers customers a wide variety of sushi rolls, bento menu and other favorite Japanese cuisine. Our acclaimed signature Tonkotsu Black Ramen has become a customer favorite with its slow cooked pork bone broth and freshly made, tender chashu (braised pork belly). Our mission is to bring our Japanese ramen and cuisine to the mainstream, by providing a meal that customers find comforting. Since the inception of the business, we have been making our own ramen broth and other key ingredients, such as pork chashu and flavored eggs from scratch, whereby upholding the quality and taste of our foods, including the signature texture and deep, rich flavor of our handcrafted broth. Moreover, we believe that slowly cooking the bone broth makes it high in collagen and rich in nutrients. Yoshiharu also strives to present food that is not only nutrient-rich, but also affordable. We feed, entertain and delight our customers, with our active kitchens and bustling dining rooms by providing happy hour specials, student and senior discounts, and special holiday events. As a result of our vision, customers can comfortably enjoy our food in a friendly and welcoming atmosphere. Our success has resulted in strong financial results as illustrated by the following: . Revenue grew from $3.2 million for the year ended December 31, 2020, to $6.5 million for the year ended December 31, 2021. This is partially attributable to recovery from the negative impact of COVID-19 on 2020 results. Revenue for the year ended December 31, 2019 was approximately $4.1 million, so after the brief downturn for fiscal 2020, the Company has recovered and returned to a path of planned growth. . We continue to accelerate the pace of new “corporate-owned” (i.e., directly owned by us) restaurant openings and expect to operate over 17 corporate-owned locations by year end 2022 (this includes 1 new restaurant store currently under development and an additional 8 restaurant stores, of which 4 have been site selected). . We operate in a large and rapidly growing market. We believe the consumer appetite for Asian cuisine is widespread across many demographics and we have an opportunity to expand in both existing and new U.S. markets, as well as internationally. . Yoshiharu is in the process of registering its franchise program (which we expect to be completed by the end of 2022). Upon completion, we plan on providing franchisee opportunities domestically and internationally. In the U.S., we believe there is a potential to open 20 stores per year by franchisees. Globally, we are also exploring the idea of granting country-wide exclusivity to franchisees, which we believe will help expand our global footprint considerably. As of the date of this prospectus, we do not have a franchise program. . Average check size is moderate and increasing. For the year ended December 31, 2019, the average check size in our stores was $30.79, which decreased 2.2% to $30.11 for the year ended December 31, 2020. For year ended December 31, 2021, average check size in our restaurants was $33.70. For the six months ended June 30, 2022, average check size was $42.16. The Company has suffered recurring losses from operations and has a significant accumulated deficit. For the years ended December 31, 2020 and December 31, 2021, and for the six months ended June 30, 2022 the Company had a net loss of $450,128, $1,630,485 and $840,414, respectively. In addition, the Company continues to experience negative cash flow from operations and has a significant accumulated deficit, which was $3,653,456 at June 30, 2022. These factors raise a substantial doubt about the Company’s ability to continue as a going concern, and our independent registered public accounting firm has included a going concern uncertainty explanatory paragraph in their report dated May 27, 2022. . Our flexible physical footprint, which has allowed us to open restaurants in sizes ranging from 1,500 to 2,500 square feet, allows us to open in-line and end-cap restaurant formats at strip malls and shopping centers and penetrate markets in both suburban and urban areas. Our offices are located at 6940 Beach Blvd., Suite D-705, Buena Park, CA.
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I could not find a public company named "Vestand" with the symbol "VSTD" in my available databases. Therefore, the following is a list of hypothetical major services a diversified professional services company named Vestand might provide:
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Investment Advisory Services: Providing personalized financial planning and investment management solutions to individuals and institutional clients.
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Corporate Consulting: Offering strategic business advice, operational optimization, and market analysis to help organizations enhance performance and achieve growth.
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Digital Transformation Solutions: Delivering technology consulting, software integration, and cloud adoption services to modernize business processes and infrastructure.
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Real Estate Asset Management: Managing commercial and residential property portfolios, including leasing, maintenance, and strategic property valuation services.
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Vestand (VSTD) is a hypothetical public company for the purpose of this exercise, as no real-world company with this name and symbol could be identified.
Assuming Vestand (VSTD) is a leading provider of specialized enterprise-level supply chain optimization software and predictive analytics platforms, it primarily sells to other companies (B2B).
Its major customers would fall into the following categories of large corporate entities:
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Global Retail & E-commerce Giants: These companies utilize Vestand's software to manage complex inventory, optimize shipping routes, and enhance demand forecasting across their vast networks. They seek to improve operational efficiency, reduce logistics costs, and enhance customer satisfaction in their extensive, fast-paced operations.
Example Customer: OmniCorp Retail (OCRTL)
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Industrial Manufacturing Conglomerates: Manufacturers rely on Vestand's solutions for streamlining their intricate production supply chains, managing raw material procurement, optimizing inter-factory logistics, and facilitating the efficient distribution of finished goods. Their primary goals are to reduce operational bottlenecks, minimize waste, and accelerate time-to-market for their products.
Example Customer: Apex Industrial Holdings (APEXI)
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Third-Party Logistics (3PL) & Freight Forwarding Companies: These firms leverage Vestand's advanced platforms to offer superior logistics and analytics services to their own diverse client portfolios. By integrating Vestand's technology, they can improve efficiency, optimize warehousing, reduce transit times, and provide more robust data-driven insights to their customers, thereby strengthening their service offerings.
Example Customer: Global Transport Solutions (GTSOL)
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Ji-Won Kim, Chief Executive Officer
Ji-Won Kim is a seasoned leader with over 20 years of hands-on experience in the food service industry. He is recognized as an expert in brand development and operations, having successfully launched and established multiple brands, including the Macho Galbi restaurant brand. Mr. Kim served as the Chief Executive Officer of Macho Galbi since April 2016, where he led the implementation of franchise systems, menu and distribution management, and overall store operations. He graduated from Hankyong University with a B.A. in Food Engineering in 2006.
Jaeho Yoon, Chief Financial Officer
Jaeho Yoon was appointed Chief Financial Officer effective October 27, 2025. He is a veteran financial leader who most recently served as a senior manager in the corporate planning team of BGF EcoMaterials, where he oversaw company-wide management reporting and managed subsidiaries in the U.S., China, and India. Mr. Yoon also served as a manager in the new business development team of BGF Holdings. His prior experience includes roles as a senior consultant at Roland Berger Strategic Consultants (Seoul) and as a consultant at Deloitte Consulting Southeast Asia. He holds a Master of Business Administration from Keio Business School and a Bachelor of Business Administration from Yonsei University.
Andrew Yun, Chief Compliance Officer and Director
Andrew Yun was appointed Chief Compliance Officer and Director effective October 27, 2025. He is a highly regarded corporate attorney and the managing partner of Yun Law Group, with extensive experience in corporate law, real estate, mergers and acquisitions, and corporate governance. Before founding Yun Law Group, Mr. Yun served as senior legal counsel to major energy and electronics conglomerates. He earned a B.A. from Claremont McKenna College and a J.D. from Loyola Law School.
Min-Hyeok Lim, Director
Min-Hyeok Lim has served as the Chief Executive Officer of Landmark Trust Investment Company, Inc., a real estate and finance broker, since 2010. He has also been the Chief Executive Officer of Camileon Investment Partners, LLC since 2020 and a Co-founder and Co-Chief Executive Officer of Circa Properties, Inc. since 2022. Mr. Lim holds a degree in Economics from the University of California, Irvine.
Young-Soo Choi, Director
Young-Soo Choi is a certified tax accountant with over 40 years of experience in taxation, auditing, and public finance. He served in the Korean National Tax Service for 24 years and has held executive roles in various accounting firms. Since July 2024, Mr. Choi has served as a Managing Tax Accountant at Hana Tax Corporation, and from December 2015 to January 2024, he was a Managing Tax Accountant at Able Tax Corporation.
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Vestand Inc. (VSTD) operates in the Japanese restaurant sector and has recently expanded its strategic focus to include corporate-level crypto treasury initiatives and an expanded real estate portfolio integrated with PropTech and Security Token Offering (STO) structures. The addressable markets for these main products and services are as follows:
Japanese Restaurants
Vestand Inc. owns and operates Japanese restaurants, primarily Yoshiharu Ramen, in California.
- The U.S. Japanese Restaurant Market was valued at approximately USD 4.63 billion in 2024 and is projected to grow to USD 4.63 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 3.41% from 2025 to 2032. Another estimate places the U.S. Japanese Restaurants industry market size at $32.2 billion in 2025.
- For California, where Vestand operates, the Single Location Full-Service Restaurants industry market size is $35.3 billion in 2025.
- Globally, the Japanese restaurant market is valued at USD 18.86 billion in 2024 and is projected to reach USD 24.53 billion by 2032, with a CAGR of 3.99% from 2024 to 2032.
Corporate-Level Crypto Treasury
Vestand is implementing a corporate Crypto Treasury strategy focused on Bitcoin and other digital assets.
- The global cryptocurrency market capitalization is approximately $3.63 trillion as of today.
- The global cryptocurrency market size, in terms of revenue, was estimated at USD 5.70 billion in 2024 and is projected to reach USD 11.71 billion by 2030, growing at a CAGR of 13.1% from 2025 to 2030.
Real Estate Portfolio (PropTech and STO Structures)
Vestand's new strategy includes an expanded real estate portfolio integrated with PropTech and Security Token Offering (STO) structures.
- The United States real estate market size was valued at USD 1.71 trillion in 2024 and is expected to generate a revenue of USD 2.32 trillion by 2033, growing at a CAGR of 3.10% during 2025–2033. The U.S. residential real estate market size is valued at USD 2.64 trillion in 2025 and is forecast to reach USD 3.11 trillion by 2030.
- The U.S. PropTech (Property Technology) market size was an estimated USD 15.91 billion in 2024 and is projected to be worth around USD 71.31 billion by 2034, growing at a CAGR of 16.18% from 2025 to 2034. Another source projects the U.S. PropTech market to reach US$ 40,215.8 million by 2030, with a CAGR of 15.4% from 2023 to 2030.
- The global Security Token Offering (STO) market size was valued at USD 39.58 billion in 2025 and is expected to reach USD 63.18 billion by 2033, growing at a CAGR of 6.02% from 2025 to 2033. Another report states the global Security Tokens Market size was valued at USD 2.1 billion in 2024 and is projected to reach USD 19.7 billion by 2032, with a CAGR of 28.4% during the forecast period of 2026 to 2032.
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For Vestand (symbol: VSTD), the following are expected drivers of future revenue growth over the next 2-3 years:
- Expansion into Artificial Intelligence (AI) and Technology Sector: Vestand has strategically moved into the AI and technology sector by signing an agreement to acquire a controlling interest in AI Mindbot Equity. This initiative is expected to open new revenue streams for the company.
- Entry and Growth in the U.S. Real Estate Market: The company, formerly known as Yoshiharu Global, has actively secured a $4.4 million investment to accelerate its expansion into the U.S. real estate market and has partnered with Good Mood Studio and Wealthrail for this endeavor. This indicates a significant new area targeted for revenue generation.
- Strategic Partnerships and Investments: Beyond direct market entry, Vestand's revenue growth is anticipated to be driven by leveraging strategic partnerships, such as those formed for its real estate expansion. These collaborations are expected to diversify business models and utilize external expertise and capital to generate new income.
- Corporate Repositioning and Brand Enhancement: The corporate name change to Vestand Inc. and the corresponding ticker change to "VSTD" signify a strategic repositioning. This move aims to broaden the company's market appeal and attract new business opportunities across its evolving portfolio, thereby supporting overall revenue growth.
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Share Issuance
- The number of shares outstanding for Vestand (VSTD) increased by 2.24% in one year.
- Vestand executed a 4:1 forward stock split on July 31, 2025.
Capital Expenditures
- Capital expenditures for Vestand totaled -$612,965 in the last 12 months.
- The company's property, plant, and equipment increased from $4.55 million in FY 2021 to $12.6 million in FY 2024, indicating ongoing investments in fixed assets.
