Tokyo Lifestyle announced that the Company, through its Hong Kong subsidiary Tokyo Lifestyle, has entered into a 5-year cooperation agreement on October 17, 2024, with Crossing Limited, a collectible card retailer and live-streaming distributor, to establish a joint venture named CROSSING CARDS CO., LTD to develop the trading card retail business. This partnership represents a significant and ambitious step forward for Tokyo Lifestyle, expanding into the trading cards market as part of its strategic diversification efforts. Pursuant to the Agreement, Tokyo Lifestyle HK and Crossing Limited agree to invest a total of JPY 10M in the JV. The JV is designed to engage in retail and wholesale card operations, with Tokyo Lifestyle HK holding a 30% equity stake and Crossing Limited holding 70%. Profits will be split according to each party’s shareholding ratio, with 50% of the net profits distributed to shareholders and the remaining 50% retained as development funds.
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