The partners aim to develop a network of 50 stores as part of a new joint venture. Credit: Nicholas Chan.

Philippines-based fast-food restaurant chain Jollibee has partnered with Japanese beef bowl restaurant chain Yoshinoya to open 50 Yoshinoya stores in the Philippines.

As part of the 50/50 joint venture, Jollibee will operate as Philippine franchisee of Yoshinoya.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The new venture will have an initial capital of PHP130m ($2.7m).

Currently, Yoshinoya operates three stores in the Philippines through Yoshinoya International Philippines.

Jollibee operates more than 5,800 stores globally. The company is considering potential growth through Yoshinoya’s delivery services amid the Covid-19 pandemic.

Due to Covid-19 related regulations, most restaurants in the Philippines are restricted to operate at 50% to 75% dine-in capacity.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

According to the company, ‘Yoshinoya’s food, particularly its signature Gyudon beef bowl, holds very well for delivery’.

The partnership marks the first Japanese food chain venture for Jollibee, which owns a number of international brands.

Meanwhile, Jollibee is looking to open 450 new stores this year, with a majority of them being planned outside of the Philippines.

According to a Bloomberg report, the chain anticipates a return to profit this year. It will boost its capital spending by a fifth to fuel the expansion.

The new stores will be mostly in North America, Vietnam, and China, significantly expanding its overseas footprint.

In December last year, it was reported that Jollibee is looking to enhance its footprint in North America with 28 new locations scheduled to launch in the US and Canada.

At that time, the reports suggested that the chain will open 19 new locations in the US and another nine in Canada. It was also reported that Jollibee was planning to open 300 stores by 2024.