SeihinKokusai Co., Ltd entered into a share transfer agreement to acquire 40% stake in Palpito Co., Ltd from Yoshitsu Co., Ltd (NasdaqCM:TKLF) for ¥40 million on June 30, 2023. Pursuant to the agreement, SeihinKokusai agreed to purchase, and Yoshitsu Co agreed to sell, all of the 800 shares of common stock Yoshitsu Co owned in Palpito. The consideration is payable in cash. The transaction was approved by the Board of Directors of Yoshitsu on June 30, 2023.

SeihinKokusai Co., Ltd completed the acquisition of 40% stake in Palpito Co., Ltd from Yoshitsu Co., Ltd (NasdaqCM:TKLF) on July 1, 2023.