Two Japanese sushi chains plan merger as they set their sights on overseas expansion
Tokyo
TWO of Japan's biggest conveyor-belt sushi restaurant chains said on Friday that they were joining forces, seeking to take advantage of sushi's growing popularity to expand overseas as their home market matures.
The parent firm of Genki Sushi Co will buy a one-third stake in Sushiro Global Holdings Ltd - the country's biggest conveyor sushi chain - from private equity firm Permira for around 38 billion yen (S$459 million), and the two chains are in talks to merge operations.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
RBA to keep key rate at 12-year high as inflation stirs anew
Buffett praised Apple after trimming it, drops Paramount stake
Westpac net profit falls 16%, announces additional A$1 billion buyback
Worst days for China’s stock market may be over
Emerging-market optimism dashed by Fed as currencies, bonds sink
LHN warns H1 2024 net profit could decline by 28.6%