Jollibee’s JV with Japan’s Yoshinoya gets SEC OK, 50 stores underway

Jollibee’s JV with Japan’s Yoshinoya gets SEC OK, 50 stores underway

The Securities and Exchange Commission has approved the business registration of Yoshinoya Jollibee Foods Inc., a 50/50 joint venture between the Tancaktiong-led Asian fastfood giant and Japan’s Yoshinoya Holdings.

The newly-incorporated company, with an initial authorized capital of P130 million, seeks to build 50 outlets across the Philippines to add to the existing three branches. It will be the franchisee for Yoshinoya in the Philippines after the Japanese firm’s partnership with the Po family ended.

Known for its gyudon beef bowls, Yoshinoya will be JFC’s first foray into Japanese food. It is one of the largest and most recognized Japanese restaurant brands globally, with over 2,000 stores worldwide.

JFC expects the Yoshinoya brand to be a strong addition to its foreign franchised brands in the Philippines, namely Burger King (with 98 stores), PHO 24 (1 store) and Panda Express (1 store). These brands contribute 3.5% to JFC’s total systemwide sales in the Philippines.

” Yoshinoya’s contribution to JFC’s system wide sales will not be significant yet as it has very limited number of stores, but it has huge opportunity to increase sales by taking advantage of the strong demand for food delivery. Yoshinoya’s food, particularly its signature Gyudon beef bowl holds very well for delivery,” JFC said.

The investment in Yoshinoya is in line with the JFC Group’s goal to be one of the world’s five biggest restaurant operators by 2025.

JFC operates in 33 countries, with over 5,800 stores globally. Apart from Jolibee, the group has seven other wholly-owned brands (Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger), four franchised brands (Burger King and Panda Express in the Philippines, Dunkin’ Donuts and Tim Ho Wan in certain territories in China), 80% ownership of The Coffee Bean and Tea Leaf, and 60% ownership in the SuperFoods Group that owns Highlands Coffee and PHO24 brands.

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