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November 30, 2020

Japanese sushi chain Sushiro to enter Thailand and China’s markets

Sushiro Global Holdings, the Japan-based operator of sushi chain Sushiro, plans to boost its Asian presence with the opening of new restaurant units in Thailand and China.

Sushiro Global Holdings, the Japan-based operator of sushi chain Sushiro, plans to boost its Asian presence with the opening of new restaurant units in Thailand and China.

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While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
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The company will be renamed to Food & Life in April 2020. It will launch its first Thailand location in Bangkok next spring, Nikkie Asia reported.

Sushiro will establish its business unit in China by December this year and intends to open one restaurant by September 2021.

Commenting on the entry into these Asian markets, Sushiro Global Holdings CEO Koichi Mizutome was quoted by the publication as saying: “Asia has rice culture, and Asian people have a higher tolerance for raw fish.”

Sushiro expects to ramp up its overseas sales to approximately 10% of total sales in fiscal 2021 by next September with the establishment of new restaurants in China and Thailand.

The Japanese firm plans to set up 24 to 28 restaurants abroad during fiscal 2021.

Meanwhile, the chain will slow down its expansion in the home market.

Several Japanese sushi chains have been under pressure to focus on their growth in foreign markets due to the country’s rapidly ageing population.

The outbreak of the Covid-19 pandemic has further accelerated their plans to focus on overseas markets.

Sushiro opened its first restaurant in 1984. It currently has restaurants in Korea, Taiwan, Hong Kong, and Singapore.

Earlier this year, Miami-based sushi restaurant Sushi Sake unveiled plans to expand its business across the US through franchising.

Last year, Canadian franchisor and operator of multiple concepts of restaurants MTY Food Group’s wholly owned subsidiary agreed to acquire sushi restaurant chain Yuzu Sushi.

Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

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