Purchase terms
Established wholesale accounts can provide availability and prices that buyers cannot reach directly.
Data room: supplier invoices and termsJapanese consumer-goods trade finance日本の消費財トレードファイナンス
Wholesale access.
Identified buyers.
Capital between them.
YuzuFi finances purchases of Japanese beauty, haircare and everyday goods through established wholesale relationships. Each trade is matched to an identified buyer, settles in yen inside Japan, and typically closes in four to six weeks.
Illustrative trade
EX-01 · 28-day cycle- Goods paid to supplier · Day 0
- ¥10,000,000
- Trade expenses
- ¥200,000
- Cash deployed
- ¥10,200,000
- Buyer settlement in JPY · Day 28
- ¥10,600,000
Trade-level surplusBefore fees, tax, FX and investor allocation
+¥400,000Day 0 · FundedDay 21 · DeliveredDay 28 · Settled
Example amounts for illustration. Not a past trade and not an investor return.
Minimum subscription$100k equivalent
Trade cycleAbout 4–6 weeks
Trade settlementJPY, within Japan
Minimum hold3 or 6 monthsMaterials differ; the PPM sets the term
01 — How your capital works資金の循環
One allocation.
Many trades, back to back.
Your allocation is split into units. Each unit funds one matched trade, is paid back when the buyer settles, then funds the next. Over a term, the trades stack up.
Illustrative allocation · invented trades and dates
One allocation, many trades
Week · of 24Day 0 of 1680
Trades completed0
Trades in flight0
Capital at work · average0%
Days lost to late payment0
Trade surplus · before costs¥0.0m
Capital goes to work
The allocation is split into three ¥10.2m units. Each unit funds one matched trade at a time, starting with skincare.
One buyer pays late
02 — How one trade works取引の流れ
Goods move to the buyer.
Cash closes the cycle.
Every trade follows the same four steps. Capital is only committed once the goods, the supplier invoice and the buyer line up.
- 01
Source
Buy through established Japanese wholesale accounts, against a supplier invoice.
Goods - 02
Match
Identify the buyer, the price and the budget before any capital is deployed.
Buyer - 03
Fund
The note pays the supplier and the trade expenses while the goods move to the buyer.
Cash - 04
Settle
The buyer pays in yen. Proceeds are reconciled to the trade, then recycled or distributed.
Cash
Capital in the trade¥0
Days committed0
Capital × time¥0.0m-d
Trade surplus · before costs—
01 / 09Capital enters the structure
The allocator subscribes ¥10.2m to the note. It sits in the issuer’s funding account until a matched trade is ready.
Buyer pays on
03 — Where the return comes from収益の源泉
Access creates the spread.
Execution decides what remains.
Three things drive results: the price we buy at, a buyer lined up before funding, and how quickly capital comes back for the next trade.
Matched demand
An identified buyer sets the intended sale before funding, so capital is not left holding unsold stock.
Data room: buyer qualification and POCapital turnover
Settlement in four to six weeks frees capital for the next trade. Delays and idle cash reduce the number of completed cycles.
Data room: cycle historyFrom one trade to your distribution
Buyer receipts−Purchase cost−Trade costs & losses=Realised trade P&L
Realised trade P&L→Allocation under the note−Fees, tax & FX=Your distribution at term end
The trade spread alone does not set your return. The note terms decide how realised P&L is allocated, and when it is paid.
04 — Structure and controls仕組みと管理
Two layers, kept separate.
One file for every trade.
The physical trade produces the proceeds. The note sets your claim on them. Each layer has its own parties and its own documents.
Investment contract投資契約
Allocator
Subscribes to the note. Receives principal and realised P&L at term end.
Note issuer
Holds subscriptions and the payment rights. The entity and its accounts are named in the final documents.
Trading operator
Matches buyers to purchases, runs delivery and reconciles each trade.
Physical trade実物取引
Japanese supplier
Wholesale account. Invoices the operator for each purchase.
Delivery chain
Goods move to the buyer. Title, insurance and acceptance are recorded.
Identified buyer
Qualified on price and budget. Pays the operator in JPY on settlement.
CashGoodsSchematic of economic relationships. Legal entities and bank routes are set by the final documents.
Trade file · one matched transaction7 records
- 01Buyer qualification and budgetBefore funding
- 02Purchase order or depositBefore funding
- 03Supplier invoice and payment instructionDay 0
- 04Bank movementsDay 0 → settlement
- 05Delivery, title and acceptance recordsOn delivery
- 06Insurance schedule and beneficiariesPer policy
- 07Settlement and reconciliationAt settlement
Ask for a redacted example file before you subscribe.
Matched before funding
The buyer, price and budget are identified before capital is deployed to a supplier.
Settled in yen, inside Japan
Trades settle domestically in JPY. Subscriptions in other currencies are converted at entry and exit, under the policy set in the final documents.
Reconciled before capital is reused
Each settlement is matched to its purchase, costs and payment record before the capital funds another trade.
05 — Terms条件
The note, in one table.
| Instrument | Short-duration note financing matched tradesLegal form and issuer set in the final documents |
|---|---|
| Minimum subscription | $100,000 equivalent |
| Minimum hold | 3 or 6 monthsCurrent materials differ; the PPM sets the term |
| Trade cycle | About 4–6 weeks per trade |
| Target return | 16–30% or 20–30% a yearMaterials differ. A target, not performance. Not guaranteed. |
| Currency | Subscribe in a preferred currency; trades settle in JPYConversion and hedging policy set in the final documents |
| Distribution | Principal plus realised P&L at term end |
| Liquidity | No interim redemption |
Key risks
- 01A buyer commitment can be cancelled, disputed or go unpaid.
- 02Insurance has limits and exclusions, and may not pay noteholders directly.
- 03Your priority on proceeds depends on the issuer structure and final documents.
- 04Results depend on a small number of suppliers, buyers and key people.
- 05Settlement delays and idle cash lower the annualised return.
- 06Investors outside JPY carry conversion risk at entry and exit.
Loss of principal is possible.
06 — Access商流
Why cash alone
can't buy in.
In Japan, prestige skincare and salon haircare brands decide who may buy from them. Our counterparty group holds accounts inside those channels. The note gives it capital to use them more often.
01 / 07
Brands decide who can buy
In Japan, prestige skincare and salon haircare brands sell only through channels they choose. That is how they protect their pricing and their image.
Prestige skincareSK-II · Shiseido · Decorté
Salon haircareMilbon · napla
Pharmacy & daily goodsOver-the-counter and everyday items
Prestige skincare · contracted storesAn account the brand has approved, a trading record and a credit line
Salon haircare · salon dealersA registered salon business and an account with an authorised dealer
Pharmacy & daily goods · pharma wholesaleA pharmacy licence and an account with a licensed wholesaler
- No account inside an authorised channel
- No salon registration or pharmacy licence
- No trading record, so no credit line
Wholesale companyBeauty and daily-goods accounts with authorised wholesalers
Salon companyOperates salons, which opens the salon-dealer channel
Pharmacy company On the public registerLicensed operator of a dispensing pharmacy
One popular product, short supply
Long-standing accounts
The group's accounts
A new accountLittle or nothing until it has a record
- 01Capital enters through the note
- 02The group buys through its own accounts
- 03Goods go out to a matched buyer
- 04Yen comes back, and the loop repeats
The groupAccounts, licences and buyers
The noteCapital to use them more often
Ask for supplier confirmations and account evidence, under NDA.Illustrative. Channel access as described by the counterparty group; ask for supplier confirmations and account evidence under NDA. Brand names identify goods traded through these channels. No affiliation with or endorsement by the brand owners is implied.
Private placement · by invitation
Review the full file
before you decide.
The data room holds the product summary, diligence answers, process documents, tax notes and a scenario model you can run with your own assumptions.
Yuzu's tip: ask for one complete trade file first. Everything else builds on it.