Like a scene out of a science fiction movie, two robots zoom across the floor of the Yakiniku King restaurant chain s Itabashi-Maenocho outlet in Tokyo, delivering orders to tables.
Asia Digest: Kakao Japan raises $550m; Tokyo-listed Saint Marc bags $64m
May 24, 2021
Anchor Equity Partners led a 60 billion yen ($550 million) investment round in Kakao Japan, while Advantage Partners invested 7 billion yen ($64 million) in restaurant operator Saint Marc.
Anchor Equity invests $550m in Kakao Japan
Anchor Equity Partners, a private equity firm focused on opportunities in Korea and North Asia, has led an investment round worth 60 billion yen ($550 million) in the Japanese subsidiary of South Korean internet giant Kakao.
The deal marks the first investment made in an overseas Kakao subsidiary. Kakao Japan’s corporate value from this investment was recognised at 800 billion yen, according to news reports. Kakao Japan plans to use the proceeds to enhance its webtoon platform, Piccoma.
The Secret Behind the Meat Grilling Boom in Japan
Bloomberg 2/7/2021 Lisa Du and Grace Huang
(Bloomberg) Indoor grilling isn’t a new concept, but in the pandemic era, it can make the difference between a restaurant surviving or closing its doors.
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Good ventilation is turning into a secret weapon for Japan’s yakiniku, or “grilled-meat” restaurants, where customers cook raw ingredients such as cuts of beef shoulder, pork belly and vegetables at the table.
While many eateries around the globe remain shuttered or offer takeout only, Japan’s establishments have remained open because the government doesn’t have the legal means to force closures. Before the government implemented a state of emergency last month, it was even encouraging people to eat out. Even so, the island nation saw a record number of restaurant bankruptcies in 2020, according to Teikoku Databank.