Tokyo Lifestyle Co., Ltd 6-K, filed Jun 13, 2024

Tokyo Lifestyle Co., Ltd. (TKLF)

6-K 2024-06-13 For: 2024-06-13

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Added on April 08, 2026

About this 6-K

Tokyo Lifestyle Co., Ltd filed this 6-K on June 13, 2024.

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	Yoshitsu Co., Ltd
Date: June 13, 2024	By:	/s/ Mei Kanayama
	Name:	Mei Kanayama
	Title:	Representative Director and Director (Principal Executive Officer)

Exhibit No.		Description
99.1		Notice of the 18th Annual General Meeting of Shareholders to be held on June 27, 2024
99.2		Form of Proxy Card

		Report Items:		The matter of the business report for the 18th fiscal year (from April 1, 2023 to March 31, 2024) and the financial statements report
		Proposal:		Reduction in the amount of capital stock

By Period Segment	FY 15 FY ended March 2021	FY 16 FY ended March 2022	FY 17 FY ended March 2023	FY 18 FY ended March 2024
Sales	23,480,468	25,655,250	21,667,575	25,615,177
Ordinary profit	936,477	486,715	192,962	397,134
Net income	556,209	192,523	884,219	216,417
Net income per share (yen)	5,984	5	24	5
Total assets	12,394,392	14,860,428	22,505,180	21,054,009
Net assets	2,583,847	5,628,047	4,701,910	5,701,950

Head Office		Harumi Building 2-5-9 Kotobashi, Sumida-ku, Tokyo
Saitama Center		3-1-5 Ryutsudanchi, Koshigaya-shi, Saitama

Trade Name		Address
Tokyo Lifestyle Limited		Unit 11, 12/F., Wing On Plaza, No.62 Mody Road, Tsim Sha Tsui East, Kowloon

Store name		Address		Store name		Address
Shinbashi Store Nishikasai Store Yokohama Chinatown Store		Minato-ku, Tokyo Edogawa-ku, Tokyo Yokohama, Kanagawa		Koshigaya-Ryutsudanchi Quiz Gate Urawa Nishikawaguchi		Koshigaya-city, Saitama Saitama-city, Saitama Kawaguchi City, Saitama

Number of employees		Change from end of previous fiscal year		Average age		Average length of service
113 persons		33 persons		38 years 2 months		3 years 10 months

Company Name		Address		Capital		Business		Investment ratio
Tokyo Lifestyle Limited		Hong Kong		HK$1,000,000		Wholesale & Retail		100%

Borrowings		Outstanding borrowings
Mizuho Bank, Ltd.		1,550,000
MUFG Bank, Ltd.		1,300,000
Resona Bank, Ltd.		943,396
Sumitomo Mitsui Banking Corporation		849,056

j	Total number of shares authorized	100,000,000 shares
k	Total number of shares issued	42,220,206 shares
l	Number of shareholders	6
m	Major shareholders

Shareholder name	Number of shares held	Percentage of shares held
THE BANK OF NEW YORK MELLON	17,565,366 shares	41.60	%
Tokushin Goudou Kaisha	12,975,050 shares	30.73	%
Mei Kanayama	7,216,436 shares	17.09	%
Prometheus Capital Fund	2,063,300 shares	4.89	%
Shintenka Trading Development Co., Ltd.	1,800,000 shares	4.26	%
SHUR Co., Ltd.	600,054 shares	1.43	%

Assigned to		Number of Assigned
LIND GLOBAL FUND II LP		746,269 pieces
S.H.N. FINANCIAL INVESTMENTS LTD		746,269 pieces
L1 CAPITAL GLOBAL OPPORTUNITIES MASTER FUND		746,269 pieces
ALTO OPPORTUNITY MASTER FUND,		746,269 pieces
INTRACOASTAL CAPITAL LLC		746,269 pieces
CVI Investments, By: Heights Capital Management, Inc.,		746,269 pieces
Hudson Bay Master Fund Ltd.		746,269 pieces
Empery Asset Master, LTD		414,861 pieces
Empery Tax Efficient, LP		147,466 pieces
Empery Tax Efficient III, LP		183,942 pieces

Position	Name	Responsibilities and significant concurrent positions
President and Representative Director	Mei Kanayama	President & Chief Executive Officer
Director	Yoichiro Haga	Executive Officer, Administrative Department
Director	Tetsuya Sato	Director, RSK Co., Ltd. Executive Officer, MGB Co., Ltd.
Director	Yoji Takenaka	Lawyer
Auditor	Tadao Iwamatsu	None
Auditor	Keiichi Kimura	Administrative Scrivener Auditor, Palpitoh Co., Ltd.
Auditor	Junji Sato	Director, Seihinkokusai Co., Ltd.

	Number of members Number		Total amount of compensation		Total amount by type of compensation
Ward min	Number of members Number		Total amount of compensation		Monetary compensation		Performance-linked compensation		Non-monetary compensation
Directors (including Outside	4		51,300		51,300		—		—
Directors)	(2	)	(7,800	)	(7,800	)	(—	)	(—	)
Corporate Auditors (including Outside Audit & Supervisory	3		9,600		9,600		—		—
Board Members)	(2	)	(3,600	)	(3,600	)	(—	)	(—	)
Total (including Outside	7		60,900		60,900		—		—
Officers)	(4	)	(11,400	)	(11,400	)	(—	)	(—	)

Assets		Liabilities
Account	Amount	Account	Amount
Current Assets	17,496,321	Current liabilities	13,832,401
Cash and deposits	301,324	Accounts payable	3,532,652
Sale Accounts Money	15,814,897	Short-term borrowings	8,050,000
Merchandise inventories	424,823	Current portion of long-term debt	209,679
Previous Delivered Money	1,794	Accounts payable	1,117,698
Prepaid expenses	295,359	Accrued expenses	6,979
Short-term loans receivable	200,000	Deposits received	4,020
Advances	1,172	Suspense receipts	10,288
Suspense payments	290,508	Accrued income taxes	595,828
Accounts receivable	10,820	Accrued consumption taxes	227,594
Accrued refund consumption taxes	314,730	Provision for bonuses	8,961
Allowance for doubtful accounts	159,110	Provision for points	734
Fixed assets	3,514,140	Contractual liabilities	6,926
Property, plant and equipment	1,090,799	Short-term lease obligations	31,650
Building	409,595	Asset retirement obligations	27,358
Buildings Accessories	388,793	Fixed liabilities	1,519,658
Structures	32,204	Long-term borrowings	809,000
Vehicle delivery equipment	14,190	Deposit	21,050
Tools, furniture and fixtures	118,514	Long-term accounts payable	135,714
Tangible lease assets	179,278	Long-term lease obligations	42,887
Land	340,148	Deferred tax liabilities	385,609
Accumulated depreciation	366,189	Accumulated impairment loss Asset retirement obligations Total liabilities	35,744
Total liabilities	25,737	Intangible fixed assets	89,653
Total liabilities	19,643	Total liabilities	15,352,059

Intangible lease assets	19,643	Net assets

Investments and other assets	2,403,697	Account	Amount
Capital	2,010	Shareholders’ equity	5,701,939
Deposit	87,130	Capital	1,955,786
Security deposit	134,814	Capital surplus	1,704,804
Insurance reserve	23,270	Capital reserve	1,704,804
Recycling deposit	18	Retained earnings	2,041,348
Long-term prepaid expenses	5,596	Other retained earnings	2,041,348
Long-term accounts receivable	1,775,934	Retained earnings brought forward	2,041,348
Bankrupt and unsecured claims	107,400	Stock acquisition rights	11
Shares of subsidiaries and associates	392,673	Total net assets	5,701,950
Allowance for doubtful accounts	125,150	Total liabilities and net assets	21,054,009

Department Eye	Amount
Sales		25,615,177
Cost of sales		23,250,146
Gross profit		2,365,031
Selling, general and administrative expenses		2,059,972
Operating profit		305,058
Non-operating income
Interest and dividends income	724
Foreign exchange gains	106,565
Miscellaneous income	128,951	236,241
Non-operating expenses
Interest expense	108,363
Amortization of deferred assets	2,561
Loan fees	33,231
Casualty loss	8	144,165
Ordinary profit		397,134
Extraordinary profit
Gain on sales of fixed assets	112,101
Gain on sales of investment securities	4,999	117,101
Extraordinary losses
Loss on disposal of fixed assets	4,714
Impairment loss	25,737	30,452
Income before income taxes		483,784
Income taxes, inhabitants taxes and enterprise taxes	639,574
Income taxes	372,207	267,366
Net income		216,417

	Shareholders’ equity						Stock acquisition rights	Total net assets
	Capital	Capital surplus		Retained earnings		Total shareholders’ equity
				Other retained earnings
		Capital surplus	Total capital surplus	Retained earnings brought forward	Total retained earnings
April 1, 2023	1,659,974	1,408,991	1,408,991	1,632,933	1,632,933	4,701,898	11	4,701,910
Balance of errors due to corrections cumulative effects	—	—	—	191,997	191,997	191,997	—	191,997
After Retroactive Processing Balance at the Beginning of the Current Period	1,659,974	1,408,991	1,408,991	1,824,930	1,824,930	4,893,896	11	4,893,907
Changes during the Fiscal Year	295,812	295,812	295,812	—	—	591,625	—	591,625
Net income of items other than shareholders’ equity during the fiscal year	—	—	—	216,417	216,417	216,417	—	216,417
Net Changes	—	—	—	—	—	—	—	—
During the fiscal year Total changes	295,812	295,812	295,812	216,417	216,417	808,042	—	808,042
March 31, 2023 Balance	1,955,786	1,704,804	1,704,804	2,041,348	2,041,348	5,701,939	11	5,701,950

Buildings		38 to 50 years
Attached facilities		3 to 18 years
Structures		10 to 30 years
Vehicle Deliverables		2 to 7 years
Tools, furniture and fixtures		2 to 20 years

Net sales in each business	Domestic wholesale	5,424,983,000 yen
	Domestic e-commerce	1,231,801,000 yen
	Domestic retail	1,982,848,000 yen
	Overseas wholesale	16,976,862,000 yen

Assets pledged as collateral	Land	340,148,000 yen
	Buildings	381,947,000 yen
	Total	722,096,000 yen
Collateral	Long-term borrowings	630,000,000yen

Accounts receivable		3,000,109,000 yen
Prepaid expenses		10,000,000 yen
Short-term loans receivable		200,000,000 yen
Temporary payments		290,000,000 yen
Accounts receivable		5,523,000 yen
accounts payable		2,000,000 yen

Tokyo Lifestyle Limited		31,423,000 yen
Total amount of guarantees		31,423,000 yen

Net sales		4,544,268,000 yen
Purchases		14,583,000 yen
Selling, general and administrative expenses		33,079,000 yen
Transactions other than operating transactions		39,306,000 yen

(Deferred Tax Assets)
Accrued Business Tax		35,896,000 yen
Accrued Business Tax		455,000 yen
Allowance for doubtful accounts		87,054,000 yen
Provision for bonuses		2,744,000 yen
Provision for points		224,000 yen
Loss on devaluation of commodity prices		2,973,000 yen
Asset retirement obligations		35,834,000 yen
Accumulated impairment loss		3,188,000 yen
Accrued retirement benefits		10,946,000 yen
Subtotal of deferred tax assets		179,318,000 yen
Valuation allowance		125,456,000 yen
Total deferred tax assets		53,861,000 yen

(Deferred tax liabilities)
Retirement expenses corresponding to asset retirement obligations		15,250,000 yen
Damages received		424,221,000 yen
Total deferred tax liabilities		439,471,000 yen
Net amount of deferred tax liabilities		385,609,000 yen

		Carrying amount on the balance sheet (*1)			Time value (*1)			Difference
Long-term loans payable (*2)		(1,018,679	)		(1,018,103	)		575

Account		Amount recorded on the balance sheet
Shares of affiliates		392,673

Category	of assets Type	Beginning of year Book value	Current period Increase	Current period Decrease	Current period Amortization	End of period Book value	Impairment loss Accumulated amount	Depreciation Accumulated amount	End of period Acquisition price
Property, plant and equipment	Buildings	552,875	—	156,659	14,268	381,947	—	27,647	409,595
	Building accessory equipment	337,428	—	28,658	52,168 (16,376)	256,601	16,376	115,815	388,793
	Structures	31,351	—	1,801	2,109	27,440	—	4,764	32,204
	Vehicle Conveyance Equipment	20,974	—	12,292	7,760	921	—	13,268	14,190
	tools, furniture and fixtures	65,451	353	925	20,149 (1,361)	46,092	1,361	72,422	118,514
	land	464,107	—	123,958	—	340,148	—	—	340,148
	tangible leased assets	80,596	—	981	40,605 (7,999)	47,009	7,999	132,269	179,278
	Total	1,552,785	353	325,278	111,323	1,116,537	25,737	366,189	1,482,726
Intangible fixed asset	Intangible leased assets	35,907	—	—	16,264	19,643
	Total	35,907	—	—	16,264	19,643
Investments & Others Capital	Long-term prepaid expenses	8,131	776	2,754	556	5,596
	Total	8,131	776	2,754	556	5,596

Department Item	Balance at the beginning of the period	Increase in the current period	Decrease in the current period	Balance at the end of the period
Allowance for doubtful accounts	264,150	20,110	—	284,260
Provision for bonuses	20,225	8,961	20,225	8,961
Provision for points	2,659	734	2,659	734
Provision for retirement benefits	25,782	15,116	5,154	35,744

Department Item	Balance at end of period	Removal Necessary
Advertising expenses	12,483
Sales promotion expenses	19,427
Packaging freight	257,091
Provision for points	1,925
Training expenses	70
Loss on inventory disposal	120
Compensation for officers	60,900
Salary allowance	336,899
Bonuses	8,240
Provision for bonuses	1,910
Statutory welfare expenses	58,927
Welfare expenses	1,287
Depreciation expenses	124,450
Repair expenses	71
Sanitation expenses	2,485
Consumables expenses	17,645
Utilities	19,997
Travel expenses	79,296
Fees	754,310
Taxes and public charges	10,945
Entertainment and entertainment expenses	50,632
Insurance premiums	19,818
Communications expenses	4,352
Membership expenses	200
Vehicle expenses	2,922
Provision for allowance for doubtful accounts	20,110
Lease payments	8,342
Rent	158,285
Advisory fees	13,545
Meeting expenses	1,149
Miscellaneous expenses	305
Retirement benefit expenses	15,116
Amortization of long-term prepaid expenses	556
Selling, general and administrative expenses	2,059,972