Japan Foods has entered a joint venture with Minor Singapore to support each other’s operations in Japan, Thailand and China. Japan Foods is to operate the partners’ Thai restaurants in Japan and support Japanese cuisine operations. Minor Singapore will meanwhile run Japanese outlets in Thailand and China, supporting the preparation of Thai cuisine.
The JV is being funded by a combined shareholder loan of $2.3 million to be disbursed equally for working capital. Japan Foods will fund its half of the loan with internal cash resources.
Japan Foods executive chairman and CEO Takahashi Kenichi said he believes the expanded network will “make us more attractive as a franchise partner to Japanese brand owners who may be looking to expand beyond their local market”.
Minor Singapore executive chairman and CEO Dellen Soh said the partnering firms “share many synergies, including strong brand portfolios and good operating track records”.
