Document:

Exhibit 10.29

 

Subscription Agreement

 

Yoshitsu Co., Ltd (hereinafter referred to as
“Party A”) and SHUR Co., Ltd. (hereinafter referred to as “Party B”) hereby enter into an agreement as follows
with respect to the subscription by Party B of 2,041 ordinary shares to be issued and allotted by Party A pursuant to the resolution of
the extraordinary shareholders' meeting to be held on December 15, 2020 (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: 2,041 ordinary shares;

 

		(2)	Amount to be paid for shares for subscription: JPY73,494 per share;

 

		(3)	Due date of payment: December 25, 2020;

 

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

 

		(5)	Capital to be increased: JPY73,494 per share;

 

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 JPY150,001,254 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:   MUFG
Bank, Ltd.     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 Nasdaq Stock Market (hereinafter referred to as the "Listing on NASDAQ") 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 on NASDAQ;

 

		(3)	Where required, and if applicable, Party B shall duly comply with the relevant rules and regulations of
NASDAQ 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 on NASDAQ, of the group of companies comprising Party A and any of its subsidiaries, or the Listing on NASDAQ.

 

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.

 

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.

 

December 17, 2020

 

	Party A	Harumi Building, Kotobashi 2-5-9, Sumida-ku, Tokyo, Japan
	 	Yoshitsu Co., Ltd.
	 	Representative director
	 	Mei Kanayama
	 	 
	 	/s/ Mei Kanayama

 

	Party B	 TN Harimaya Building, Harimaya-cho 1-4-8, Kochi-shi, Kochi, Japan
	 	SHUR Co., Ltd.
	 	Representative director
	 	HUHEBALA
	 	 
	 	/s/ HUHEBALAExhibit 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.

 

    2

     

    

 

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

 

 

3Exhibit 10.31

 

The Revolving Credit Facility-Loan Agreement between
Yoshitsu Co., Ltd and MUFG Bank

 

Dated on September 27, 2021

 

		※	Please notice that this is a shortened version
of the formal Japanese agreement. In the case of any discrepancy between the translation and the Japanese original, the latter shall prevail.

 

Borrower: Yoshitsu Co., Ltd

Guarantor: Mei Kanayama

Agent: MUFG Bank

 

	Lender	 	Loan Amount	 
	MUFG Bank	 	 	1,000,000,000	 
	Mizuho Bank	 	 	1,450,000,000	 
	Risona Bank	 	 	1,000,000,000	 
	SMBC Bank	 	 	600,000,000	 
	United Overseas Bank	 	 	600,000,000	 
	Tokyo Star Bank	 	 	400,000,000	 
	Ashikaga Bank	 	 	300,000,000	 
	The Iyo Bank	 	 	300,000,000	 
	Kochi Bank	 	 	300,000,000	 
	Chiba Bank	 	 	300,000,000	 
	THE TOKUSHIMA TAISHO BANK	 	 	300,000,000	 
	Sumitomo Mtsui Trust Bank	 	 	300,000,000	 
	Towa Bank	 	 	200,000,000	 
	Musashino Bank	 	 	200,000,000	 
	Kansai Mirai Bank	 	 	100,000,000	 
	Kita Nihon Bank	 	 	50,000,000	 
	Toei Shinkin Bank	 	 	50,000,000	 
	BOT Lease Co., Ltd.	 	 	50,000,000	 
	SUM	 	 	7,500,000,000	 

 

Use of the Loan: Working Capital

Loan Period: 2021.09.30~2022.09.30.

Commitment Fee Rate:
0.3% (Annual Rate).

Base Interest Rate:
TIBOR rate as of 11 am 2 business days before the execution date.

Spread: 0.7% (Annual
Rate)

 

     

     

    

 

Conditions of Loan
Execution:

 

		(1)	All lenders are not exempt from the loan obligation and have not been completed.

 

		(2)	“Representations and guarantees” are true and accurate

 

		(3)	There is no breach of the obligation of the borrower under this contract, and there is no risk of it.

 

		(4)	All or part of the Loan Agreement has not been canceled based on the first sentence of Article 587-2,
Paragraph 2 of the Civil Code.

 

		(5)	All the following documents shall be submitted on the date of conclusion of this contract, and all lenders
/ agents shall be satisfied with the contents.

 

<Borrower>

 

		1.	Seal certificate (issued within 3 months)

 

		2.	A copy of the commercial register or a certificate of all current matters or a certificate of all history
matters (issued within 3 months)

 

		3.	Notification of seal or signature in the prescribed format

 

		4.	Confirmation (Documents certifying the conclusion of this contract, laws and regulations related to borrowing
based on this contract, and completion of procedures required by internal regulations)

 

Lender’s rights and obligations:

 

		●	Unless
otherwise provided in this Agreement, Lenders shall exercise the rights under this Agreement individually and independently.

 

		●	If the
lender violates the lending obligation and does not make an individual loan on the execution date, the lender will immediately compensate
the Borrower for all damages incurred due to the breach of the loan obligation as soon as the Borrower requests it.

 

		●	If the
conditions of Loan Execution are not met, the Lender shall not execute the loan.

 

Borrower’s representations and guarantees:

 

		●	Borrower
is entitled to obtain and use the loan pursuant to the agreement.

 

		●	Borrower shall pay the Agent Fee.

 

		●	Borrower
shall not borrow more than 8,200,000,000 JPY per month.

 

		●	Borrower
must make the repayment immediately and notify the Agent and all the Lenders if there is a deadline profit loss.

 

    2

     

    

 

The deadline profit
loss is described as follows:

 

		-	When there is a suspension of payment for the borrower, or
when there is a petition for bankruptcy proceedings, civil rehabilitation proceedings, corporate reorganization proceedings, special
liquidation, or other similar legal arrangements.

 

		-	When the borrower makes a resolution for dissolution or receives
an order for dissolution.

 

		-	When the borrower abolishes the business

 

		-	When the borrower receives a transaction suspension from
the clearing house, a transaction suspension from the Zengin Electronic Credit Network Co., Ltd., or an equivalent measure by another
electronic credit recording institution.

 

		-	When a provisional seizure, maintenance seizure or seizure
order or notice is sent to the lender for deposit claims or other claims held by the borrower, or when a trial is conducted to order
the execution of the maintenance seizure or seizure.

 

		●	Borrower must pay the delinquency charge if the debt to the lender
is overdue.

 

		●	Unless
the case that the lender breach the agreement, the borrower shall pay the non-execution lender the settlement money for the non-execution
of the individual loan as soon as the Agent requests it.

 

		●	The Borrower
does not pay the obligations under this Agreement directly to the Lender other than the Agent. The lender who received the payment shall
immediately pay the received money to the agent, and upon receipt of the money by the agent, it shall be deemed that the obligation for
the money has been fulfilled. In addition, the borrowers are all lenders and unless the agent consents in advance, we will not fulfill
the obligations under this agreement by accord and satisfaction.

 

		●	Borrower
bears the relevant fees under the agreement.

 

 

3

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