Pono Capital Two, Inc.
PTWOU
NASDAQ Global Market12.00
USD
+1.21
- -
CIK
0001930313
ISIN
US73245B2060
CUSIP
73245B206
Return %
Stock
S&P500
1Y
11.94
18.21
3Y
19.64
63.29
5Y
19.64
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Darryl S. Nakamoto
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 643 Ilalo Street Honolulu HI United States of America 96816
- IPO Date
- Aug 5, 2022
- CIK
- 0001930313
- Similar Companies
- Business
- Pono Capital Two, Inc. (NASDAQ:PTWOU) operates as a blank check company, or special purpose acquisition company (SPAC), with no significant independent operations and a focus on effecting mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations, primarily targeting tech-enabled companies in Japan; it completed a reverse merger with SBC Medical Group Holdings Incorporated on September 17, 2024, pursuant to which Pono Capital Two was acquired and renamed SBC Medical Group Holdings Incorporated, marking its transition from a SPAC shell to the holding company of Japan's largest cosmetic medical group with approximately 222 franchise clinics mainly in Japan and select overseas locations including Vietnam. Through its subsidiaries such as SBC Medical Group Co., Ltd., the combined entity provides comprehensive management consulting services to franchisee clinics under brands like Shonan Beauty Clinic, encompassing advertising and marketing across platforms including social media; staff recruitment, training, and management; customer booking reservations; employee housing and facility rentals; clinic construction and design; procurement and resale of medical equipment, consumables, and cosmetics; licensing of trademarks, brands, patent-pending and non-patented medical technologies; IT software solutions for remote consultations and operations; customer rewards programs; and payment processing; revenue streams include management services (37%), procurement services (27%), royalty income (22%), rental services (4%), and others such as pharmacy sales and training. Founded in 2022 and headquartered at 643 Ilalo Street, Honolulu, Hawaii, the company originated from Shonan Beauty Clinic established in 2000 in Fujisawa City, Kanagawa Prefecture, Japan, by CEO Yoshiyuki Aikawa, a Nihon University School of Medicine graduate, and now serves aesthetic dermatology, cosmetic surgery, dentistry, orthopedics, infertility treatment, general internal medicine, ophthalmology, hair loss (AGA) treatments, and insured medical services, targeting diverse demographics with a repeat customer rate exceeding 70% and operations spanning Japan as the core market alongside international expansion. Recent developments include the $1.36 billion pro forma business combination valuing SBC at $1.2 billion, Nasdaq listing commencement post-merger in September 2024 as Japan's only publicly listed medical group, a Non-Redemption Agreement in August 2024 facilitating low redemptions ahead of closing, entry into Singapore in late 2024 via partnership with Aesthetic Healthcare Holdings, and plans announced in November 2025 for Thailand expansion through collaboration with BLEZ ASIA to open a dermatological clinic in Bangkok's Asok district, targeting the $1.2 billion aesthetic medicine market projected by 2033. The franchise model supports over 200 clinics primarily via eight medical corporations including Shobi-kai, Kowa-kai, and Ritz Cosmetic Surgery, driving FY23/12 sales of $194 million, operating profit of $71 million, and EBITDA of $86 million, with ambitions to reach 1,200 clinics and 30 hospitals in Japan by 2035 and global leadership akin to Mayo Clinic by 2050 through dermatology-focused growth, M&A, and insured-elective medical integration.