Japanese ramen chain Yoshiharu Global Co. announced plans Tuesday to rebrand under the name Vestand Inc. and move its headquarters from Buena Park to Brea as the chain expands its food operations to include restaurant real estate development and digital asset ventures.
The 15-unit restaurant chain said it has initiated steps with Nasdaq to change its name and ticker symbol. Until that change is complete, it will continue to operate under the ticker, “YOSH.” Its headquarters has moved to 104 Apple Blossom Circle in Brea, and its new corporate website is now www.vestand.com.
CEO Ji-Won Kim said the rebranding and pursuit of real estate investments and digital assets such as property technology (PropTech) is part of a plan to diversify the company’s revenue and establish a solid foundation for long-term growth.
“Our evolution to operate as Vestand is an acknowledgment of the progress we have made to diversify and position the company as a leading PropTech player in the U.S. market over the mid to long term,” Kim said in a statement. “Our proven on-the-ground expertise, real asset–focused investment structure, and a differentiated expansion strategy rooted in Security Token Offering (“STO”) and AI-based technologies is quickly enabling our transition into a PropTech company.”
The rebrand and corporate move come about a month after the ramen chain removed its founder and co-chief executive James Chae and Chief Financial Officer Ryan Cho.
Shares are up less than 1% to $8.05 apiece with a market cap of $14.2 million in early trading following the July 15 announcement.
