Japanese sushi chain Sushiro eyes cross-border expansion next year
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Sushiro Global Holdings, the Japan-based operator of sushi chain Sushiro, plans to boost its Asian presence with the opening of new restaurant units in Thailand and China.
The company will be renamed to Food & Life in April 2020. It will launch its first Thailand location in Bangkok next spring, Nikkie Asia reported.
Sushiro will establish its business unit in China by December this year and intends to open one restaurant by September 2021.
Commenting on the entry into these Asian markets, Sushiro Global Holdings CEO Koichi Mizutome was quoted by the publication as saying: “Asia has rice culture, and Asian people have a higher tolerance for raw fish.”
Sushiro expects to ramp up its overseas sales to approximately 10% of total sales in fiscal 2021 by next September with the establishment of new restaurants in China and Thailand.
The Japanese firm plans to set up 24 to 28 restaurants abroad during fiscal 2021.
Meanwhile, the chain will slow down its expansion in the home market.
Several Japanese sushi chains have been under pressure to focus on their growth in foreign markets due to the country’s rapidly ageing population.
Questions & Answers
Q.When will Sushiro open its first restaurant in Thailand?
When will Sushiro open its first restaurant in Thailand?
Sushiro plans to launch its first Thailand restaurant in Bangkok next spring. This will be part of their strategy to boost their Asian presence alongside expansion into China.
Q.What is the company's target for overseas sales by September 2021?
What is the company's target for overseas sales by September 2021?
Sushiro expects to increase its overseas sales to approximately 10% of total sales by September 2021. This growth is anticipated with the establishment of new restaurants in China and Thailand.
Q.Why are Japanese sushi chains expanding into foreign markets?
Why are Japanese sushi chains expanding into foreign markets?
Japanese sushi chains are under pressure to focus on growth in foreign markets due to Japan's rapidly ageing population. This makes overseas expansion a key strategy for continued growth.
Q.How many new restaurants does the company plan to open abroad during fiscal 2021?
How many new restaurants does the company plan to open abroad during fiscal 2021?
The Japanese firm plans to establish between 24 and 28 new restaurants abroad during fiscal 2021. This expansion forms a key part of their strategy to increase their international presence.
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