Two Japanese sushi chains plan merger as they set their sights on overseas expansion
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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.
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