As part of Yoshiharu Global Co.’s (Nasdaq: YOSH) recent efforts to expand into real estate investment and development, the company has secured a $4.4 million investment from an overseas investment fund known as the Open Innovation Fund.
“This investment is more than just capital — it represents a meaningful step in Yoshiharu’s evolution as a company,” Chief Executive Ji-Won Kim said in a statement.
Shares jumped 11% to $2.33 apiece during after-hours trading with a market cap of $15 million.
The capital, secured through a convertible note, will be used for acquiring, developing, or renovating real estate in California.
The Buena Park-based chain said it “is pursuing a long-term strategy to transition toward an asset-backed revenue model” in addition to its existing ramen restaurant operations.
This includes investing in property technology (PropTech) and partnering with real estate firm Good Mood Studio, known for property flipping.
Yoshiharu is in the midst of several companywide changes. It has initiated steps with Nasdaq to rebrand under the name Vestand Inc. and move headquarters to Brea. In June, the ramen chain removed its founder and co-chief executive James Chae and Chief Financial Officer Ryan Cho and named Kim as sole CEO.
