YuzuFiInvestor overview · October 2026 · Strictly confidential
Japanese 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 tradeEX-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
+¥400,000
Example amounts for illustration. Not a past trade and not an investor return.
A proposed private placement · Targets and examples are illustrative · The PPM and executed agreements control1
Speaker Notes: Open with the three-part thesis on the slide: wholesale access we did not buy, buyers identified before we fund, and investor capital bridging the four to six weeks in between. The ticket on the right is the whole trade in miniature — ¥10.2m out on Day 0, ¥10.6m back on Day 28. Say clearly that it is an invented example and that the ¥0.4m is a trade-level surplus before costs, not an investor return. The rest of the deck follows the same order as the website.
01 — The opportunity機会YuzuFi
Gated supply, waiting buyers, and a funding gap between them.
The trade earns a spread between what an account holder pays a Japanese wholesaler and what an identified buyer pays. Investor capital funds the weeks in between.
01 · Supply
Brands choose who may buy
Prestige skincare and salon haircare brands sell only through channels they approve. Our counterparty, a Japanese operating group, holds accounts inside them.
Described by the counterparty · details under NDA
02 · Demand
Buyers are lined up first
Overseas distributors and retailers want more of these goods than the book can fill. Each trade starts with an identified buyer, price and budget, before capital moves.
Management-reported
03 · Capital
Someone has to fund the gap
The supplier is paid on Day 0; the buyer pays weeks later. The note funds that interval. When the buyer settles, the same capital funds the next trade.
The role of the note
Minimum subscription$100k equivalent
Trade cycleAbout 4–6 weeks
Trade settlementJPY, within Japan
Minimum hold3 or 6 monthsMaterials differ; the PPM sets it
Context. A weak yen widens the gap between Japanese wholesale prices and what overseas buyers pay. That is a tailwind which can reverse, not the source of the trade.
YuzuFi · Strictly confidential2
Speaker Notes: The whole argument on one slide. Supply: these brands decide who can buy at wholesale, and the counterparty group already holds those accounts — that is described by the group and documented under NDA, not something we ask anyone to take on faith. Demand: buyers are identified, with price and budget, before any capital moves; an identified buyer is not yet an enforceable commitment, and the trade file shows which documents make it one. Capital: someone has to fund the weeks between paying the supplier and being paid. The yen is context, not the thesis — say plainly it can reverse. The minimum hold is three months in some materials and six in others; the PPM settles it.
02 — How your capital works資金の循環YuzuFi
One allocation. Many trades, back to back.
The loop · each unit goes round again
The stack · 24 weeks, three units
W0W4W8W12W16W20W24
Unit A¥10.2m
Skincare28d
Haircare35d
Skincare28d
Everyday42d
Unit B¥10.2m
Haircare35d
Everyday42d
Skincare28d
Unit C¥10.2m
Everyday42d
Skincare28d
Haircare35d
Skincare28d
Done11 trades
SkincareHaircareEveryday goodsOne buyer pays 14 days lateGaps: idle while the next buyer is matched
Trades completed11
Capital at work · average76%
Days lost to late payment14
Illustrative · three ¥10.2m units over 24 weeks · invented trades, dates and gaps · not a forecast or past performance3
Speaker Notes: This is the product, before any single trade. The allocation is split into units — here three of ¥10.2m. Each unit funds one matched trade at a time: pay the supplier, goods in transit, delivered around Day 21, then wait for the buyer to pay. When the buyer pays, the unit comes back to the top of the loop and funds the next trade, often a different product. On the right the trades stack up over 24 weeks. Point out the gaps (idle while the next buyer is matched), the one late payment on Unit B (same sale, but that unit is out of the loop for 14 more days), and the wind-down at the end: near term end a unit only takes a trade that can settle in time. All of it is invented to show the mechanics; it is not a forecast. The website has the same picture animated, with on-time and later payment options.
03 — One trade, start to finish取引の流れYuzuFi
Goods move to the buyer. Cash closes the cycle.
Two layers run side by side. The physical trade produces the proceeds; the investment contract decides the allocator's claim on them.
Cash deployed · Day 0
¥10.2m
of which goods
¥10.0m
of which trade expenses
¥0.2m
Buyer pays in JPY · Day 28
¥10.6m
Trade-level surplus
+¥0.4m
Before fees, tax, FX and investor allocation. Not an investor return.
Day 0Supplier paid
Day 21Goods delivered
Day 28Buyer pays
Delivery does not release cash. If the buyer pays on Day 42 or 56, the same ¥0.4m ties up ¥10.2m for longer, so that capital funds fewer trades.
Illustrative trade EX-01 · invented amounts and dates · the actual sequence is confirmed from dated records4
Speaker Notes: Walk the cash first, then the goods. The allocator subscribes; the issuer's funding account sends ¥10.2m to the trading operator; the operator pays the supplier ¥10m on Day 0 and spends ¥0.2m on trade expenses. Goods go through the delivery chain to the buyer, around Day 21 — delivery alone releases no cash. The buyer pays ¥10.6m on Day 28. Proceeds go back through the funding account under the contracts, and distribution follows the note, which can be later than this trade settles. Two questions, kept separate: does the trade make a spread (here ¥0.4m before costs), and what part of it reaches the investor (set by the note). Earlier materials put the buyer purchase order and deposit before the supplier order; the process page describes a different order, so treat the sequence as something the trade file confirms. Website: the animated version of this slide lets you change the payment day.
04 — Where the return comes from収益の源泉YuzuFi
Access creates the spread. Execution decides what remains.
Three things drive results: the price the group buys at, a buyer lined up before funding, and how quickly capital comes back for the next trade.
01
Purchase terms
Established wholesale accounts can provide availability and prices that buyers cannot reach directly.
Check: supplier invoices, terms, concentration02
Matched demand
An identified buyer sets the intended sale before funding, so capital is not left holding unsold stock. When that becomes a binding commitment decides the remaining exposure.
Check: buyer qualification, PO timing03
Capital turnover
Settlement in four to six weeks frees capital for the next trade. Delays and idle cash reduce the number of completed cycles in a term.
Realised trade P&L→Allocation under the note−Fees, tax & FX=Your distribution at term end
Illustrative EX-01: ¥10.6m − ¥10.0m − ¥0.2m = ¥0.4m realised trade P&L, before the note's allocation, fees, tax and FX.
The trade spread alone does not set your return. The note terms decide how realised P&L is allocated, and when it is paid.
YuzuFi · Strictly confidential · Return targets are on the Terms slide and are not performance5
Speaker Notes: Separate the spread from the return. Access creates a possible spread: the group buys on wholesale terms that the buyers cannot get directly. Matched demand protects it: the buyer is identified before funding, though an identified buyer is not the same as an enforceable commitment, and the documents decide when it becomes one. Turnover multiplies it: every week capital sits idle or waits for a late payment is a week it is not earning. Then the bottom band — the realised trade P&L is not the investor's return. Allocation under the note, fees, tax and FX come off before anything is distributed. The per-cycle and annual targets are on the Terms slide, labelled as targets.
05 — Access商流YuzuFi
Why cash alone can't buy in.
In Japan, prestige skincare and salon haircare brands sell only through channels they choose, to protect their pricing and image. Scarce stock is allocated to accounts with a buying record.
Each gate asks for something different
Prestige skincare · contracted storesAn approved account, a trading record and a credit line
Salon haircare · salon dealersA registered salon business and an authorised dealer account
Pharmacy & daily goods · pharma wholesaleA pharmacy licence and a licensed wholesaler account
The group holds keys to all three
Wholesale companybeauty and daily-goods accounts with authorised wholesalers
Salon companyoperates salons, which opens the salon-dealer channel
Pharmacy companylicensed operator of a dispensing pharmacy On the public register
The group brings the accounts and the buyers. The note brings the capital to use them more often.
Illustrative. Channel access as described by the counterparty group; account details are shared in the data room under NDA. Brand names identify goods traded through these channels. No affiliation with or endorsement by the brand owners is implied.
YuzuFi · Strictly confidential6
Speaker Notes: This is the moat, stated carefully. Brands like SK-II, Shiseido, Decorté, Milbon and napla are examples of the goods traded — we are not their partners and do not imply it. They sell through channels they approve: contracted stores for prestige skincare, authorised dealers to salons for salon haircare, licensed wholesalers for pharmacy and daily goods. A new trader with cash but no accounts, licence or record is turned away, and when stock is short it goes to accounts with a buying record. The counterparty group holds a key in each channel through its own companies; the pharmacy licence is on the public health-ministry register, which is the strongest single piece of evidence. Account names, tenure and terms stay under NDA. Expect the question of what the supply agreements allow for resale; the answer belongs in the data room, not on this slide.
06 — The counterparty group取引先グループYuzuFi
The supply sits inside an operating group, not a broker.
An eight-company group with third-party credit reports on file. Names are withheld here; cleared readers can reveal them.
Group revenue scale¥30Bcompany-stated1
Operating entities8formally declared 2026-07
Partner companies134as of 2026-02
Domestic bases3Saga · Tokyo · Osaka
Group structure — names withheld, functions disclosed
Logistics, warehousing, fulfilment, ECLOGISTICS CO
Owned cosmetics brandsBRAND CO
Beauty salon operationsSALON CO
Pharma wholesale & dispensing pharmaciesPHARMA CO
Food manufacturing & product developmentFOOD CO
Clinics / medical servicesMEDICAL CORP
Why it matters to the trade
The wholesale accounts sit inside a real operating business
Gated brands vet on track record and corporate credibility. A group with nationwide distribution and 134 named trading partners is the kind of counterparty those channels open accounts for, and a new entrant would struggle to assemble.
Why it matters to your capital
The funding gap is faced by an operating group, not a shell
The working-capital gap between paying the wholesaler and being paid by the buyer is the central exposure in this model. That leg is faced by a multi-entity group with third-party credit reports on file, not a single-purpose trading vehicle.
1 ¥30B is the group's own published figure and is not independently audited. Third-party credit reports on the two trading entities are held on file and available under NDA; independent confirmation of current revenue has not been obtained.
YuzuFi · Strictly confidential · Identity reveal requires a separate password7
Speaker Notes: This answers "who are you actually trading with". Lead with structure and function, not the name — names come out only after clearance (the reveal button, with its own password). Be precise that ¥30B is self-reported and unaudited; we hold third-party credit reports on the trading entities and can show them under NDA. The two cards are the point: the accounts on the previous slide live inside a real operating business, and the one central exposure — funding the gap between paying the supplier and being paid — is faced by a multi-entity group rather than a shell.
06 — The counterparty group · track record実績YuzuFi
Said it, then did it, now on government record.
A 2024 third-party credit investigation recorded what this group intended to build. Government and independent records since show it built it.
Healthcare — strongest chainGovernment-verified at two points
2024-05Credit investigation records the intent: move into medical products, acquire dispensing pharmacies and clinicsConfidential credit report
2024-10A dedicated pharmaceutical company is incorporated — pharma wholesale, pharmacy operation, medical devicesCompany filing / site
2025–26A real dispensing pharmacy appears under the group as licensed operator — first under the logistics entity, then under the pharma entityMHLW Kinki Bureau pharmacy register
2026-03National health-ministry system lists the group entity as the active operator of A NAMED PHARMACYMHLW Medical Information Net
2026-07Group formally declares both the pharma company and a medical corporation as membersOfficial group notice
Beauty — the channel our trade sits inWholesale → salon → owned brands
2024-05Credit investigation notes the salon channel becoming materially more important to the wholesale businessConfidential credit report
2024-10A dedicated salon-operating company is incorporatedOperator site
2025-05First salon opens and trades under that companyOperator site
2025-10Owned haircare line launches at retail with named SKUs, sizes and prices — moving up from distributing third-party goods to owning brand marginIndependent PR wire
2026-05A J.League club independently names the wholesale entity as a uniform sponsor, confirming its address, representative and line of businessClub announcement
Evidence gradeTier 1 — government / regulatory recordTier 2 — independent third partyTier 3 — company-published
What this does and does not prove. It proves the group executes: stated plans were followed by incorporations, licences, real operating sites and government-registered activity. It does not prove financial performance — consolidated accounts, ownership, acquisition terms and audited revenue remain diligence items, available under NDA.
YuzuFi · Strictly confidential · Sources revealed with the identity password8
Speaker Notes: We are not asking anyone to trust a pitch. A paid third-party credit investigation in May 2024 wrote down what management said it would do; independent records show it done. Healthcare is the spine because the health ministry itself names the group entity as a licensed pharmacy operator — Tier 1 evidence. The beauty track matters more for the trade itself: wholesale, then salons, then an owned brand. Note honestly that the salon company is recent (incorporated 2024, first salon 2025). Close on the limit: execution is evidenced, financial performance is not, and the financials are an NDA conversation.
07 — Structure and controls仕組みと管理YuzuFi
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
AllocatorSubscribes to the note. Receives principal and realised P&L at term end.
→ Note issuerHolds subscriptions and payment rights. Entity and accounts named in the final documents.
→ Trading operatorMatches buyers to purchases, runs delivery and reconciles each trade.
Physical trade実物取引
Japanese supplierWholesale account. Invoices the operator for each purchase.
→ Delivery chainGoods move to the buyer. Title, insurance and acceptance recorded.
→ Identified buyerQualified on price and budget. Pays the operator in JPY.
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
Matched before fundingThe buyer, price and budget are identified before capital is deployed to a supplier.
Settled in yen, inside JapanTrades settle domestically in JPY. Other currencies are converted at entry and exit under the policy in the final documents.
Reconciled before capital is reusedEach settlement is matched to its purchase, costs and payment record before the capital funds another trade.
Insurance. Current materials describe cover across the chain, from order to delivery. Policy schedules, insured parties, beneficiaries, limits and exclusions are documents to request. Insurance may reduce specific risks; it does not make principal risk-free.
YuzuFi · Strictly confidential · Schematic; the final documents set entities, accounts and payment rights9
Speaker Notes: Two layers, never blurred. The physical trade — supplier, delivery chain, buyer — is what produces cash. The investment contract — allocator, issuer, operator — is what decides who has a claim on it. Goods moving to a buyer do not by themselves give the investor title, security or priority; the final documents do. Then the trade file: seven records that should all point to the same trade. Offer one complete redacted file early; it answers more questions than any slide. On insurance, describe what the materials say and stop there: cover is described across the chain, and the policy schedule, beneficiaries, limits and exclusions are what to read. Do not present insurance as principal protection.
08 — Terms条件YuzuFi
The note, in two tables.
Terms as they appear in current materials. Where materials differ, both values are shown; the private placement memorandum sets the final figure.
The note
The note
Instrument
Short-duration note financing matched tradesDescribed as a Japanese GK or KK vehicle; issuer set in the final documents
Minimum subscription
$100,000 equivalentIncreases in $100k steps; tailored terms from $2M (reported)
Minimum hold
3 or 6 monthsMaterials differ; the PPM sets the term
Term start
When the full subscription clearsAs described; confirmed in the subscription documents
Liquidity
No interim redemption
Distribution
Principal plus realised P&L at term end
The economics
The economics
Trade cycle
About 4–6 weeks per trade
Target per cycle
3–5%A target, not performance
Target a year
16–30% or 20–30%Materials differ; the PPM sets it. A target, not performance. Not guaranteed.
Currency
USD in and out described; trades settle in JPYConversion and hedging policy set in the final documents
Rollover
Available, subject to deal capacity
Reporting
Per-trade confirmations and a statement at closeFinal reporting package set in the PPM
Targets are not performance. Annualising short cycles is sensitive to settlement delays, idle cash, losses, fees, tax and conversion costs. Loss of principal is possible. The PPM and executed agreements control.
YuzuFi · Strictly confidential10
Speaker Notes: Read the terms as written, and name the two conflicts before anyone else does: the minimum hold is three months in some materials and six in others, and the annual target is 16–30% in some and 20–30% in others. The PPM settles both. Every return figure on this slide is a target. The annual figure depends on how many cycles actually complete, which is why the capital-loop slide shows idle gaps and a late payment. USD in and out is described, with the trade itself in JPY; ask for the conversion and hedging policy. Minimum is $100k equivalent, in $100k steps, with tailored terms reported from $2M.
09 — Key risks主なリスクYuzuFi
What can go wrong, and what to check.
Each risk below comes from the current materials. The line at the foot of each card is the document that tests it.
01
Buyer commitment
A pre-sold trade reduces inventory risk only if the commitment is genuine, binding, collectible and matched to the goods funded.
Check Matched PO or deposit, invoice, delivery and settlement
02
Insurance recovery
Cover has limits, exclusions and waiting periods, and the insured party may not pass proceeds to noteholders.
Check Policy schedule, insured parties, beneficiaries, claims history
03
Issuer and priority
Physical goods do not by themselves give investors title, security or first claim on proceeds.
Check PPM, issuer chart, bank and custody arrangements
04
Concentration
Gated access can mean dependence on a small number of suppliers, buyers, key people and logistics providers.
Check Concentration, tenure, limits, replacement history
05
Timing, JCT and idle cash
Late delivery, late settlement, tax refunds or slow redeployment lower the annualised return, even if principal comes back.
Check Full cycle history, including delays and skipped trades
06
FX at the boundary
JPY settlement inside the trade does not remove conversion risk for an investor outside JPY.
Loss of principal is possible.Insurance and operating controls may reduce specific risks. They do not remove investment risk.
YuzuFi · Strictly confidential11
Speaker Notes: Say the risks before you are asked. The pre-sold structure works only if the buyer commitment is real and enforceable. Insurance is a set of policies with limits and beneficiaries, not a guarantee. The investor's priority depends on the issuer documents, not on the goods. Gated access cuts both ways: it creates the spread and it concentrates dependence. Delays and idle cash change the annual figure even when principal comes back. And JPY settlement does not remove currency risk for a USD investor. Every risk has a document that tests it, and those documents are the data-room list on the next slide.
10 — Next steps次のステップYuzuFi
Review the full file before you decide.
The data room holds the documents behind every slide. Start with one complete trade file; everything else builds on it.
In the data room
01Product summaryTerms, transaction sequence and the evidence behind each claim
02Diligence questionsDirect answers to the questions allocators ask most
03Process and documentsEach step of a trade and the record it produces
04Tax notes for investorsJapanese consumption tax (JCT) and how it affects timing
05Counterparty evidenceSources and their limits; identity revealed under NDA
06Scenario modelTest cycle length, delays and idle cash. Outputs are models, not results
Ask for these before subscribing
01One complete redacted trade file, matched end to end
02Final PPM, subscription agreement and issuer chart
03Insurance schedules, beneficiaries, limits and exclusions
04Transaction-level cycle history, including delays and losses
05Supplier and buyer concentration, tenure and limits
06FX conversion and hedging policy; tax analysis for your setup
Then take independent legal, tax and investment advice.
YuzuFi · Strictly confidential12
Speaker Notes: Close on process, not pressure. Everything on the previous slides has a document behind it in the data room: the product summary, the diligence FAQ, the process and document checklist, the JCT tax notes, the counterparty evidence file and the scenario model. Then tell them what to ask for, in this order: one complete redacted trade file first, then the PPM and subscription agreement, insurance schedules, the full cycle history including delays, concentration data, and the FX and tax position for their own setup. The first item usually answers most of the others.
YuzuFiStrictly confidential
Thank you. Questions welcome.
Wholesale access. Identified buyers. Capital between them.
Yuzu's tip: ask for one complete trade file first. Everything else builds on it.
For questions about YuzuFiYuzuFi · Investor RelationsTokyo, Japanir@yuzufi.examplewww.yuzufi.example
A proposed private placement for eligible investors · not an offer · targets and examples are illustrative · loss of principal is possible13
Speaker Notes: Close and hand off. Repeat the one-line thesis and the one practical ask: one complete trade file. The contact details are still placeholders from the earlier deck — replace them before this goes to anyone outside the team.
