Jollibee forms JV with Yoshinoya to operate Japanese restaurant brand in PH
February 16, 2021
Philippine-listed fast-food giant Jollibee Foods Corporation (JFC) is forming a 50:50 joint venture with Yoshinoya International Philippines Inc (YIPI) to operate the Japanese beef bowl business Yoshinoya in the country, according to a disclosure Tuesday.
Financial details of the joint venture were not disclosed but Jollibee told the Philippine Stock Exchange that the JV will be the local franchisee of Yoshinoya, one of the largest and most recognised Japanese restaurant brands globally.
YIPI is the Philippine subsidiary of Asia Yoshinoya International and Yoshinoya Holdings, trademark owner of the Yoshinoya System, JFC said. YIPI currently operates three Yoshinoya stores. The joint venture plans to open 50 more stores in the country in the long term.
Jollibee, Yoshinoya pair up for Japanese restaurant s expansion in PH
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Metro Manila (CNN Philippines, February 16) Jollibee Foods Corporation is taking on its first ever Japanese food chain, it announced Tuesday.
The fast food giant will be entering a 50/50 joint venture with Yoshinoya International Philippines Inc., it told the local stock exchange in a disclosure. The joint venture firm will serve as the Japanese restaurant’s local franchisee and will expand the brand locally, with 50 stores eyed for opening in the long-term.
This makes Yoshinoya the latest addition to the foreign franchised brands run by JFC in the Philippines, joining the likes of Burger King, PHO 24 and Panda Express.
Jollibee Foods Corporation (JFC), one of the largest Asian food service companies, is acquiring a 50 percent stake in the Philippine franchise of the popular Yoshinoya restaurant of Japan.
In a disclosure to the Philippine Stock Exchange, JFC said it will establish a 50-50 joint venture with Yosh
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