Latest news with #Yoshinoya
Yahoo
4 days ago
- Business
- Yahoo
Yoshinoya America hires Better Buzz Coffee exec as president
This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Yoshinoya America is hiring Paul Nishiyama as president, effective June 1, the company announced Wednesday. In the U.S., Yoshinoya has about 100 units, located in California. Outside the country, the Tokyo-based brand has over 2,000 restaurants. Nishiyama will join the chain from Better Buzz Coffee, where he served as chief operating officer. Previously, he held various positions at Rubio's during a five-year stint with the company, where he rose to COO, according to his LinkedIn profile. He left Rubio's about a year and a half before the chain filed for Chapter 11 bankruptcy protections. Nishiyama joins Yoshinoya with 'a successful track record of sustained growth, improved profitability, and a commitment to quality,' according to the press release. Yoshinoya has struggled to generate growth momentum in recent years, according to its Franchise Disclosure Document. The brand, which does not disclose information relating to unit economics in its FDD, saw its total number of units fall from 106 at the start of 2021 to 100 at the start of 2024. Last year, the brand appointed a new CEO for America, Glenn Lunde. Despite sluggish post-COVID growth, Yoshionya likely faces relatively favorable market conditions in the U.S. The brand's menu, which is anchored by Gyudon Beef Bowls, fits within broader fast casual trend toward bowl-based meals. A similarly bowl-heavy menu has helped Cava outperform expectations. At the same time, the National Restaurant Association predicted 2025 would be a strong year for Asian concepts, though the NRA said that Japanese concepts have already achieved significant market penetration in the U.S. Asian brands, whether headquartered in the U.S. or abroad, have seen strong signs of recent growth. Yoshinoya may be able to capitalize on these trends and expand its U.S. presence. Recommended Reading NRA predicts a big year for Korean, Vietnamese and Filipino flavors Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
19-05-2025
- Business
- Business Times
Japan's Yoshinoya bets big on ramen noodles for next phase of expansion
[TOKYO] Japan's Yoshinoya said on Monday it was betting on ramen noodles for its next phase of growth, looking to turn it into a third business pillar along with 'gyudon' beef bowls and udon noodles. Announcing a growth plan for the next five years, the fast-food chain operator best known for its gyudon, or stewed beef over rice, said it would target a 10-fold jump in operating profit from the ramen business to 4 billion yen (S$36.4 million). By the financial year ending in February 2035, it hopes to become the world's top seller of ramen, it said. The new business plan comes as Japanese restaurant chains struggle from higher food prices - particularly of domestic rice and US beef - and the difficulty of raising product prices in a country just emerging from years of deflation. 'I see significant potential for ramen,' incoming CEO Tetsuya Naruse told a press conference to announce the plan. Yoshinoya expects its ramen business to garner revenues of 40 billion yen by the 2029 financial year and account for 13 per cent or total sales, versus 4 per cent last year. Setting the stage for growth, Yoshinoya bought two Kyoto-based ramen shop operators, Takara Sangyo and Kiramekino Mirai, last business year, adding to its portfolio of ramen brands including Withlink in Hiroshima and Setagaya in Tokyo. Yoshinoya said its ramen expansion would involve further inorganic growth with more acquisitions. REUTERS
Reuters
19-05-2025
- Business
- Reuters
Japan's Yoshinoya bets big on ramen noodles for next phase of expansion
TOKYO, May 19 (Reuters) - Japan's Yoshinoya (9861.T), opens new tab said on Monday it was betting on ramen noodles for its next phase of growth, looking to turn it into a third business pillar along with 'gyudon' beef bowls and udon noodles. Announcing a growth plan for the next five years, the fast-food chain operator best known for its gyudon, or stewed beef over rice, said it would target a 10-fold jump in operating profit from the ramen business to 4 billion yen ($28 million). By the financial year ending in February 2035, it hopes to become the world's top seller of ramen, it said. The new business plan comes as Japanese restaurant chains struggle from higher food prices - particularly of domestic rice and U.S. beef - and the difficulty of raising product prices in a country just emerging from years of deflation. "I see significant potential for ramen," incoming CEO Tetsuya Naruse told a press conference to announce the plan. Yoshinoya expects its ramen business to garner revenues of 40 billion yen by the 2029 financial year and account for 13% or total sales, versus 4% last year. Setting the stage for growth, Yoshinoya bought two Kyoto-based ramen shop operators, Takara Sangyo and Kiramekino Mirai, last business year, adding to its portfolio of ramen brands including Withlink in Hiroshima and Setagaya in Tokyo. Yoshinoya said its ramen expansion would involve further inorganic growth with more acquisitions. ($1 = 145.1600 yen)
CNA
19-05-2025
- Business
- CNA
Japan's Yoshinoya bets big on ramen noodles for next phase of expansion
TOKYO :Japan's Yoshinoya said on Monday it was betting on ramen noodles for its next phase of growth, looking to turn it into a third business pillar along with 'gyudon' beef bowls and udon noodles. Announcing a growth plan for the next five years, the fast-food chain operator best known for its gyudon, or stewed beef over rice, said it would target a 10-fold jump in operating profit from the ramen business to 4 billion yen ($28 million). By the financial year ending in February 2035, it hopes to become the world's top seller of ramen, it said. The new business plan comes as Japanese restaurant chains struggle from higher food prices - particularly of domestic rice and U.S. beef - and the difficulty of raising product prices in a country just emerging from years of deflation. "I see significant potential for ramen," incoming CEO Tetsuya Naruse told a press conference to announce the plan. Yoshinoya expects its ramen business to garner revenues of 40 billion yen by the 2029 financial year and account for 13 per cent or total sales, versus 4 per cent last year. Setting the stage for growth, Yoshinoya bought two Kyoto-based ramen shop operators, Takara Sangyo and Kiramekino Mirai, last business year, adding to its portfolio of ramen brands including Withlink in Hiroshima and Setagaya in Tokyo. Yoshinoya said its ramen expansion would involve further inorganic growth with more acquisitions. ($1 = 145.1600 yen)
South China Morning Post
14-05-2025
- Business
- South China Morning Post
Japan's appetite for rice set to keep prices high as farm politics persist
Japan 's efforts to curb soaring rice prices by releasing stockpiles and easing import restrictions have had limited effect, with analysts warning the country's long-standing agricultural policies and supply constraints could keep prices elevated for years. Advertisement Supermarket prices for rice remained stubbornly high at 4,214 yen (US$28.50) per five kilograms in the week to May 4 despite the first decline in 18 weeks after a record peak the previous week, and they were more than double the price from a year earlier, according to data from the Ministry of Agriculture, Forestry and Fisheries. The persistent price surge, which began in the summer of 2024, has rattled the food sector. Convenience stores have raised prices on rice balls and bento boxes, while beef bowl chains Matsuya and Yoshinoya have shifted to imported or blended rice to contain costs. Several factors are fuelling the spike, according to Ogawa Masayuki, an assistant professor and an agricultural economist at Utsunomiya University. On the demand side, record inbound tourism and heightened hoarding due to fears of a major earthquake along the Nankai Trough have led to a price jump. 'On the supply side, the hot weather [in 2023] caused a significant drop in rice quality,' Ogawa told This Week in Asia. Advertisement The record-breaking summer heat of that year severely affected grain quality and rice yields.
