Tokyo Lifestyle Co Ltd
ystbek.co.jpWhat Do They Do?
Sells Japanese beauty, health and other consumer products to franchisees and wholesale customers, and serves shoppers through its own stores and online marketplaces.
20-F for FY2026, filed Jul 10, 2026Headquartered in Tokyo, we are a retailer and wholesaler of Japanese beauty and health products, as well as sundry products and other…View ↗
We currently sell our products through directly-operated physical stores, through online stores, and to franchise stores and wholesale…View ↗
Our distribution channels consist of (i) our directly-operated physical stores in Japan, Hong Kong, U.S., Australia, and Canada, (ii)…View ↗
How Do They Make Money?
It earns money from product sales to shoppers, franchisees and wholesalers: domestic sales are earned at sale or delivery, and international sales when products are loaded onto ships. Franchisees also pay monthly trademark royalties; Japanese franchise agreements include initial and sales-based fees.
20-F for FY2026, filed Jul 10, 2026The Company currently generates its revenue through retail and wholesale of Japanese beauty and health products, luxury and electronic…View ↗
The Company enters into franchise agreements with franchisees in Japan under which the franchisee is granted a revocable license and…View ↗
We enter into trademark license agreements with overseas franchisees, under which the overseas franchisee is granted a revocable license…View ↗
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20-F for FY2026, filed Jul 10, 2026
FY2026 revenue by product or service ↗
$373.2M
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20-F for FY2026, filed Jul 10, 2026
$373.2M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Directly-operated physical stores
Sold outright
|
5.3%
FY2023: 6.8%
|
Directly-operated physical stores, FY2026
$19.8M Sources
|
Sold outright |
|
Online Stores and Services
Sold outright
|
1.8%
FY2023: 12%
|
Online Stores and Services, FY2026
$6.7M Sources
|
Sold outright |
|
Franchise stores and wholesale customers
Mix
20-F for FY2026, filed Jul 10, 2026 |
93%
FY2023: 81%
|
Franchise stores and wholesale customers, FY2026
$346.7M Sources
|
Mix |
Who Are Their Customers?
Consumers shop in company-run stores and online; franchisees and wholesale customers purchase products from the company for resale.
20-F for FY2026, filed Jul 10, 2026Our distribution channels consist of (i) our directly-operated physical stores in Japan, Hong Kong, U.S., Australia, and Canada, (ii)…View ↗
In addition, as of the date of this annual report, we have approximately 270 wholesale customers in Japan and other countries, including…View ↗
Since our directly-operated physical stores in Japan are mostly located in commercial districts and tourist areas which foreigners who live…View ↗
20-F for FY2026, filed Jul 10, 2026
For the fiscal year ended March 31, 2026, two customers accounted for 12.3% and 11.6% of the Company’s total revenue, respectively. For the…View ↗
Do Revenues Turn Into Profits?
Yes. It kept less than a cent of every revenue dollar as net income in FY2026, but spent more cash than it brought in: free cash flow was −$10.6M.
20-F for FY2026, filed Jul 10, 2026
$3.2MView ↗
20-F for FY2026, filed Jul 10, 2026
$716.7KView ↗
20-F for FY2026, filed Jul 10, 2026
−$10.6MView ↗
How Are They Changing?
Growing. Revenue grew 59% in 4 years, from $234.8M in FY2022 to $373.2M in FY2026, about 12% a year.
Broader product range
The latest business overview separately lists luxury goods, electronics, collectible cards and trendy toys alongside the beauty, health, sundry and other products described in the older overview.
20-F for FY2023, filed Jul 31, 2023 20-F for FY2026, filed Jul 10, 2026Headquartered in Tokyo, we are a retailer and wholesaler of Japanese beauty and health products, as well as sundry products and other…View ↗
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