2023 Q4 Form 10-K Financial Statement

#000149315224012337 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $2.500M $9.215M $8.282M
YoY Change -1.41% 11.26% 26.7%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.010M $12.18M $3.034M
YoY Change -14.82% 301.63% -63.26%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $149.2K $545.6K $658.4K
YoY Change 44.6% -17.14% 374.78%
% of Gross Profit
Operating Expenses $3.159M $12.73M $3.950M
YoY Change -13.13% 222.25% -52.95%
Operating Profit -$3.515M -$3.784M
YoY Change -7.11% 103.45%
Interest Expense -$31.28K -$218.2K $88.30K
YoY Change 18.4% -347.06% -269.09%
% of Operating Profit
Other Income/Expense, Net $17.54K $32.32K $316.1K
YoY Change 43.65% -89.78% 1093.31%
Pretax Income $28.18K -$2.992M -$3.468M
YoY Change -102.53% -13.74% 114.63%
Income Tax $19.58K $48.65K $19.25K
% Of Pretax Income 69.48%
Net Earnings $8.600K -$3.040M -$3.487M
YoY Change -100.77% -12.82% 113.88%
Net Earnings / Revenue 0.34% -32.99% -42.11%
Basic Earnings Per Share -$2.29 -$0.33
Diluted Earnings Per Share $0.01 -$2.29 -$0.27
COMMON SHARES
Basic Shares Outstanding 1.329M shares 10.50M shares
Diluted Shares Outstanding 1.329M shares 1.079M shares

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.833M $1.833M $6.509M
YoY Change -71.84% -71.84% 498.76%
Cash & Equivalents $1.833M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $73.02K $73.02K $60.90K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.906M $1.906M $6.570M
YoY Change -70.99% -70.99% 484.69%
LONG-TERM ASSETS
Property, Plant & Equipment $9.553M $9.553M $9.139M
YoY Change 202.45% 4.52% 100.71%
Goodwill
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.561M $1.561M $308.4K
YoY Change 406.24% 406.25% 95.22%
Total Long-Term Assets $11.11M $11.11M $9.448M
YoY Change 17.63% 17.63% 100.53%
TOTAL ASSETS
Total Short-Term Assets $1.906M $1.906M $6.570M
Total Long-Term Assets $11.11M $11.11M $9.448M
Total Assets $13.02M $13.02M $16.02M
YoY Change -18.72% -18.72% 174.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $647.8K $647.8K $744.1K
YoY Change -12.94% -12.94% -53.45%
Accrued Expenses $572.2K $572.2K $458.8K
YoY Change 24.72% 24.72% 113.41%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $1.000M $300.0K
YoY Change 233.33% 233.33%
Long-Term Debt Due $959.1K $959.1K $305.6K
YoY Change 213.85% 213.85% -15.14%
Total Short-Term Liabilities $3.269M $3.269M $1.987M
YoY Change 64.51% 64.51% -45.49%
LONG-TERM LIABILITIES
Long-Term Debt $1.407M $1.407M $1.430M
YoY Change -1.62% -1.62% -16.51%
Other Long-Term Liabilities $5.690M $5.690M $6.962M
YoY Change -18.28% -18.28% 149.08%
Total Long-Term Liabilities $7.097M $7.097M $8.393M
YoY Change -15.44% -15.44% 86.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.269M $3.269M $1.987M
Total Long-Term Liabilities $7.097M $7.097M $8.393M
Total Liabilities $10.37M $10.37M $10.38M
YoY Change -0.13% -0.13% 27.3%
SHAREHOLDERS EQUITY
Retained Earnings -$9.341M
YoY Change 48.26%
Common Stock $11.99M
YoY Change 0.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.653M $2.653M $5.638M
YoY Change
Total Liabilities & Shareholders Equity $13.02M $13.02M $16.02M
YoY Change -18.72% -18.72% 174.5%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income $8.600K -$3.040M -$3.487M
YoY Change -100.77% -12.82% 113.88%
Depreciation, Depletion And Amortization $149.2K $545.6K $658.4K
YoY Change 44.6% -17.14% 374.78%
Cash From Operating Activities -$1.280M -$4.592M -$3.799M
YoY Change 174.66% 20.87% -2056.72%
INVESTING ACTIVITIES
Capital Expenditures $132.0K $1.471M $1.473M
YoY Change -87.0% -0.14% -264.31%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$132.0K -$1.471M -$1.473M
YoY Change -87.0% -0.14% 64.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $56.00K $56.00K $10.35M
YoY Change -99.46% 708.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 719.6K 1.386M $10.69M
YoY Change 107.73% -87.04% 497.58%
NET CHANGE
Cash From Operating Activities -1.280M -4.592M -$3.799M
Cash From Investing Activities -132.0K -1.471M -$1.473M
Cash From Financing Activities 719.6K 1.386M $10.69M
Net Change In Cash -692.7K -4.676M $5.422M
YoY Change -39.0% -186.25% 398.76%
FREE CASH FLOW
Cash From Operating Activities -$1.280M -$4.592M -$3.799M
Capital Expenditures $132.0K $1.471M $1.473M
Free Cash Flow -$1.412M -$6.063M -$5.272M
YoY Change -4.7% 15.0% -583.34%

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ForgivenessOfPaycheckProtectionProgramLoan
385900 usd
CY2023 YOSH Forgiveness Of Restaurant Revitalization Fund Loan
ForgivenessOfRestaurantRevitalizationFundLoan
700454 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
218153 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
88300 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
48647 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
19245 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80E_eus-gaap--NatureOfOperations_zmOcYyTSUe78" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_82A_z0Er2BOoZ52i">NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_ecustom--ScheduleOfWhollyOwnedSubsidiariesTableTextBlock_zPeTR0fTYHm3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yoshiharu Global Co. (“Yoshiharu”) was incorporated in the State of Delaware on December 9, 2021. Yoshiharu did not have significant transactions since formation. Yoshiharu has the following wholly owned subsidiaries:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BF_znoZrpI2csAb" style="display: none">SCHEDULE OF WHOLLY OWNED SUBSIDIARIES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 96%; border-collapse: collapse; margin-left: 0.25in"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of Formation</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description of Business</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalJJGroupIncMember_zlZDwVxJFat9" title="Name of subsidiary">Global JJ Group, Inc. (“JJ”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalJJGroupIncMember_zYPDnDmoete3" title="Date of formation">January 8, 2015</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalJJGroupIncMember_zihIVwxRJjTl" title="Description of business">Ramen stores located in Orange, California and Buena Park, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalAAGroupIncMember_zn41b4frBPEa" title="Name of subsidiary">Global AA Group, Inc. (“AA”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalAAGroupIncMember_zUBPTWOzvs0g" title="Date of formation">July 21, 2016</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalAAGroupIncMember_zvflXUoL8Vy6" title="Description of business">Ramen store located in Whittier, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalBBGroupIncMember_zdcyQo0jpRd8" title="Name of subsidiary">Global BB Group, Inc. (“BB”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalBBGroupIncMember_zeQTdjS0BzS3" title="Date of formation">May 19, 2017</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalBBGroupIncMember_z9AVIgA2Yqq1" title="Description of business">Ramen store located in Chino Hills, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalCCGroupIncMember_zvEQKRLa2QCb" title="Name of subsidiary">Global CC Group, Inc. (“CC”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalCCGroupIncMember_zsNiF4fLz8R9" title="Date of formation">September 23, 2019</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalCCGroupIncMember_zLKP2BZZmTpd" title="Description of business">Ramen stores located in Eastvale, California and Corona, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalDDGroupIncMember_zbuGn6PAeLf2" title="Name of subsidiary">Global DD Group, Inc. (“DD”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalDDGroupIncMember_zHoVI9oMlbC1" title="Date of formation">December 19, 2019</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--GlobalDDGroupIncMember_zoFc1NqxMxwa" title="Description of business">Ramen store located in la Mirada, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuIrvineMember_ztQlsVNV0Ya1" title="Name of subsidiary">Yoshiharu Irvine (“YI”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuIrvineMember_zRqYWg5OqqP2" title="Date of formation">December 4, 2020</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuIrvineMember_zUDouz0z1UL" title="Description of business">Ramen store located in Irvine, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuCerritosMember_zqB4lqozTtBf" title="Name of subsidiary">Yoshiharu Cerritos (“YC”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuCerritosMember_zqOw6f2Hj5Yl" title="Date of formation">January 21, 2021</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuCerritosMember_zxQGx9DjrnF5" title="Description of business">Ramen store located in Cerritos, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuClementeMember_zN7dPzbWCiR2" title="Name of subsidiary">Yoshiharu Clemente (“YCT”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuClementeMember_z13XDJDPxp81" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuClementeMember_zpKdr7aQmaD9" title="Description of business">Ramen store to be opened in San Clemente, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuLagunaMember_zcrn3x0j8oMj" title="Name of subsidiary">Yoshiharu Laguna (“YL”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuLagunaMember_zPeHcu1bgiZ5" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuLagunaMember_zfMFlGvKtHLa" title="Description of business">Ramen store to be opened in Laguna, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuOntarioMember_zpyVi1gS3wBc" title="Name of subsidiary">Yoshiharu Ontario (“YO”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuOntarioMember_zqqRNrdrs6eg" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuOntarioMember_zasR5QcJ5pl1" title="Description of business">Ramen store to be opened in Ontario, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuMenifeeMember_zcdEUnEnsrL3" title="Name of subsidiary">Yoshiharu Menifee (“YM”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuMenifeeMember_zCR4CSNnpKW" title="Date of formation">May 2, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuMenifeeMember_zMIhlc86iDb" title="Description of business">Ramen store to be opened in Menifee, California</span>.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--NameOfSubsidiary_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuGardenGroveMember_zYLvD61WGC3g" title="Name of subsidiary">Yoshiharu Garden Grove (“YG”)</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuGardenGroveMember_zAX1FMJdF97b" title="Date of formation">July 27, 2022</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--EntityDescriptionOfBusiness_c20230101__20231231__dei--LegalEntityAxis__custom--YoshiharuGardenGroveMember_zClr3D0rsjZd" title="Description of business">Ramen store to be opened in Garden Grove, California</span>.</span></td></tr> </table> <p id="xdx_8A8_zsItURDjNG3l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company owns restaurants specializing in Japanese ramen and other Japanese cuisines. The Company offers a variety of Japanese ramens, rice bowls, and appetizers. Unless otherwise stated or the context otherwise requires, the terms “Yoshiharu” “we,” “us,” “our” and the “Company” refer collectively to Yoshiharu and, where appropriate, its subsidiaries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to September 30, 2021, the Yoshiharu business (the “Business”) consisted of the first seven separate entities listed above (collectively, the “Entities”), each wholly owned by James Chae (“Mr. Chae”), and each holding one (1) store, except for JJ, which held two stores and the Business’s intellectual property (the “IP”). Effective October 2021, JJ transferred the IP to Mr. Chae. Effective October 2021, Mr. Chae contributed <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JamesChaeMember_zIeooKari1B1" title="Ownership percentage">100</span>% of the equity interests in each of the Entities to Yoshiharu Holdings Co., a California corporation (“Holdings”), for purposes of consolidating the Business operations into a single entity. Mr. Chae was issued an aggregate <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211002__20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JamesChaeMember_zVdDXwdIynW7" title="Issuance of shares">3,205,000</span> shares in Holdings, which reflected the aggregate number of shares originally issued to Mr. Chae by the Entities, in exchange for <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JamesChaeMember_zxWHlmppdXyg" title="Ownership percentage">100</span>% of each Entity (on a 1 for 1 share exchange basis). In addition, effective October 2021, Mr. Chae transferred the IP to Holdings in exchange for the issuance of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesPurchaseOfAssets_c20211002__20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JamesChaeMember_z3wmpRuHOQV7" title="Issuance of shares for intellectual property">6,245,900</span> shares in Holdings in order to bring his total shareholdings in Holdings up to an aggregate <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211002__20211031__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JamesChaeMember__srt--RangeAxis__srt--MaximumMember_zgVUhVJFT7f2" title="Issuance of shares">9,450,900</span> shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 9, 2021, Yoshiharu completed a share exchange agreement whereby Mr. Chae, the sole stockholder of Holdings, received <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20211208__20211209__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JamesChaeMember_zKSmWlH5ekg4" title="Issuance of shares">9,450,900</span> shares of Yoshiharu, representing <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211209__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JamesChaeMember_zj8ZmvxU4r1c" title="Ownership percentage">100</span>% of issued shares at that time, and Yoshiharu received all of the shares of Holdings. This recapitalization was accounted for in accordance with the “Transactions Between Entities Under Common Control” subsections of Accounting Standards Codification (“ASC”) 805-50, Business Combinations, which requires that the receiving entity recognize the net assets received at their historical carrying amounts. A common-control transaction has no effect on the parent’s consolidated financial statements. No value was ascribed to the shares issued for the transfer of the IP since the only relevance of the aggregate number of shares issued to Mr. Chae in Holdings was to effect the 1 for 1 share exchange with Yoshiharu upon its incorporation in Delaware. ASC 805-50 also prescribes that, if the recognition of the net assets results in a “change in the reporting entity,” the receiving entity presents the transfer in its separate financial statements retrospectively. Accordingly, the assets and liabilities and the historical operations that are reflected in these consolidated financial statements are those of the subsidiaries and are recorded at the historical cost basis of the subsidiaries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 22, 2023, Yoshiharu Global Co. (the “Company”) filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split of its issued Class A common stock, par value $<span id="xdx_901_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20231122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_znRgQ7g1W7Hb" title="Common stock, par value">0.0001</span> per share (“Class A Common Stock”) and Class B common stock, par value $<span id="xdx_90A_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20231122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zob9fajLU7Ba" title="Common stock, par value">0.0001</span> per share (“Class B Common Stock” and, together with Class A common Stock, “Common Stock”), in the ratio of <span id="xdx_901_eus-gaap--StockholdersEquityReverseStockSplit_pid_c20231122__20231122_zJYx0qRCG7ab" title="Reverse stock split">1-for-10</span> (the “Reverse Stock Split”) to be effective at 11:59 p.m. eastern on November 27, 2023. The Common Stock began trading on a split-adjusted basis at the market open on Tuesday, November 28, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fractional shares were issued as a result of the Reverse Stock Split. Instead, any fractional shares that would have resulted from the Reverse Stock Split were rounded up to the next whole number. As a result, total of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesReverseStockSplits_c20231231__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ze4fvRfGZyad" title="Shares issued during reverse stock split">34,846</span> shares of Class A common stock were issued and total of <span id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXWvpFv9vNLk" title="Common stock, shares outstanding">1,230,246</span> shares of Class A common stock were outstanding as of December 31, 2023. The Reverse Stock Split affects all stockholders uniformly and did not alter any stockholder’s percentage interest in the Company’s outstanding Common Stock, except for adjustments that may result from the treatment of fractional shares. The number of authorized shares of Common Stock of the Company and number of authorized, issued, and outstanding shares of the preferred stock of the Company were not changed.</span></p>
CY2023Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zlzCVYqwzwKj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_zgsoFNvDiW97">Use of Estimates and Assumptions</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in our consolidated financial statements and the accompanying notes. Such estimates include accounts receivables, accrued liabilities, income taxes, long-lived assets, and deferred tax valuation allowances. These estimates generally involve complex issues and require management to make judgments, involve analysis of historical and future trends that can require extended periods of time to resolve, and are subject to change from period to period. In all cases, actual results could differ materially from estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Marketing Expense
MarketingExpense
121000 usd
CY2022 us-gaap Marketing Expense
MarketingExpense
149000 usd
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zE7l9cNYZufh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_866_z7Z2a9bePsqb">Concentrations of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and other receivables arising from its normal business activities. The Company has a diversified customer base. The Company controls credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for un-collectible accounts and, as a consequence, believes that its accounts receivable related credit risk exposure beyond such allowance is limited.</span></p>
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5788962 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4334854 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1696012 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1176426 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4092950 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3158428 usd
CY2023 us-gaap Depreciation
Depreciation
545549 usd
CY2022 us-gaap Depreciation
Depreciation
658371 usd
CY2023Q4 us-gaap Notes Payable To Bank
NotesPayableToBank
1406329 usd
CY2022Q4 us-gaap Notes Payable To Bank
NotesPayableToBank
1286086 usd
CY2023Q4 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
414378 usd
CY2022Q4 us-gaap Notes Payable To Bank Current
NotesPayableToBankCurrent
265943 usd
CY2023Q4 us-gaap Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
991951 usd
CY2022Q4 us-gaap Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
1020143 usd
CY2023Q4 YOSH Long Term Debt Economic Injury Disaster Loans
LongTermDebtEconomicInjuryDisasterLoans
425865 usd
CY2022Q4 YOSH Long Term Debt Economic Injury Disaster Loans
LongTermDebtEconomicInjuryDisasterLoans
450000 usd
CY2023Q4 YOSH Loan Payable Economic Injury Disaster Loans Current
LoanPayableEconomicInjuryDisasterLoansCurrent
10526 usd
CY2022Q4 YOSH Loan Payable Economic Injury Disaster Loans Current
LoanPayableEconomicInjuryDisasterLoansCurrent
39652 usd
CY2023Q4 YOSH Loan Payable Economic Injury Disaster Loans Non Current
LoanPayableEconomicInjuryDisasterLoansNonCurrent
415339 usd
CY2022Q4 YOSH Loan Payable Economic Injury Disaster Loans Non Current
LoanPayableEconomicInjuryDisasterLoansNonCurrent
410348 usd
CY2023Q4 us-gaap Loans Payable Current
LoansPayableCurrent
534239 usd
CY2022Q4 YOSH Restaurant Revitalization Fund
RestaurantRevitalizationFund
700454 usd
CY2022Q4 YOSH Restaurant Revitalization Fund Non Current
RestaurantRevitalizationFundNonCurrent
700454 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
978504 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
530722 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
978504 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
530722 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
826307 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
538909 usd
CY2023 YOSH Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
826307 usd
CY2022 YOSH Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
538909 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
893761 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
923862 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
919143 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
882733 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
862836 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3431562 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7913897 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6261765 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
572230 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5689535 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
6261765 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1652132 usd
CY2023Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10
CY2023Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-10

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