Exhibit 10.30


 


Subscription Agreement


 


Yoshitsu Co., Ltd. (hereinafter referred to as
“Party A”) and GRAND ELEC-TECH LIMITED (hereinafter referred to as “Party B”) hereby enter into an agreement as
follows with respect to the subscription by Party B of 9,090 ordinary shares to be issued and allotted by Party A pursuant to the resolution
of the extraordinary shareholders' meeting to be held on February 12, 2021 (hereinafter referred to as the “Shares”):


 


		Article	1 Subscription Requirements



 


The subscription
requirements of the Shares shall be as follows:


 


		(1)	Number of shares for subscription: 9,090 ordinary shares;



		(2)	Amount to be paid for shares for subscription: JPY22,003 per share;






			Total amount to be paid: JPY200,007,270;






		(3)	Due date of payment: August 12, 2021;



		(4)	Party to whom shares will be allotted: Party B;



		(5)	Capital to be increased: JPY100,989,656






			Capital reserves to be increased: JPY99,017,614






 


Article
2 Method of Subscription


 


		1.	Party B shall subscribe for the Shares in accordance with the
subscription requirements set forth in the preceding article.



		2.	Pursuant to the provisions of Article 205 of the Companies Act,
the procedures for applications for shares for subscription under Article 203 of the Companies Act or the procedures for allotment of
shares for subscription under Article 204 of the Act shall not be carried out with this agreement.



 


Article
3 Method of Payment


 


		1.	Party B shall pay JPY200,007,270 for the subscription of the Shares
by the due date of payment under Article 1 (3) to the following place where payments are handled.



			Place where payments are handled: RISONA Bank



 


Kameido Branch


Savings account


Account No.:
[*]


Name of account
holder: Yoshitsu Co., Ltd.


 


		2.	If the payment under the preceding paragraph is not made, the
right of Party B to receive allotment of the Shares will be extinguished.



 






     


     


    

 


Article 4  Undertakings by Party B


 


Party B undertakes
that:


 


		(1)	Upon every shareholders’ meeting of Party A, Party B shall
submit to Party A a proxy to the effect that it delegates to Mr. Mei Kanayama, all authority to exercise the voting rights of the Shares,
or shall provide the matters to be described in the proxy by electronic means;



		(2)	Party B should not dispose of or transfer the Shares until later
of (i) six (6) months from the date of the listing of Party A on the Stock Exchange of Hong Kong Limited, the New York Stock Exchange,
NASDAQ, Tokyo Stock Exchange or any other recognised stock exchange (hereinafter referred to as the "Listing ") or (ii) the
expiration of the lock-up period as set forth in the lock-up agreements to be entered into by principal shareholders of Party A in connection
with the Listing;



		(3)	Where required, and if applicable, Party B shall duly comply with
the relevant rules and regulations of the Stock Exchange of Hong Kong Limited, the New York Stock Exchange, NASDAQ, Tokyo Stock Exchange
or any other recognised stock exchange or any regulatory body in connection with the Shares; and



		(4)	Party B will provide assistance in relation to any matters in
connection with the reorganization, which is required for the Listing, of the group of companies comprising Party A and any of its subsidiaries,
or the Listing.



 


Article
5 Matters to be Discussed


 


Any matter not stipulated in this agreement will
be determined from time to time after consultation between Party A and Party B.


 






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IN WITNESS WHEREOF, the parties hereto have executed
this agreement in duplicate originals of the Japanese and English versions by placing their signatures or names and seals thereon, and
each party shall keep one copy of the originals.


 


February 12, 2021


 


	Party A	Harumi Building, Kotobashi 2-5-9, Sumida-ku, Tokyo, Japan
	 	Yoshitsu Co., Ltd.
	 	Representative director
	 	Mei Kanayama
	 	 
	 	/s/ Mei Kanayama
	 	 
	Party B	Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands
	 	GRAND ELEC-TECH LIMITED
	 	Chen Zhiyong
	 	 
	 	/s/ Chen Zhiyong



 


 


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