Yoshinoya Holdings sets up India subsidiary
Japanese fast-food restaurant group Yoshinoya Holdings, known for its beef bowls, has established a wholly owned subsidiary in India.
“It is difficult to explore store opening without setting up an entity,” a spokeswoman for Yoshinoya has told Kyodo News.
Yoshinoya India has been set up in Gurugram, in the northern state of Haryana, according to documents filed with India’s Ministry of Corporate Affairs. With capital of INR150 million (US$2.3 million), the subsidiary aims to set up and run a chain of restaurants and franchises.
Based in Tokyo, Yoshinoya says its overseas outlets – in Cambodia, China, Hong Kong, Indonesia, Malaysia, Singapore, Taiwan, Thailand, the Philippines and the US – account for about a quarter of its 3200-odd stores.
In the predominantly Hindu country, the company’s spokeswoman admits it might not be easy to initially launch a beef-bowl restaurant, but some of its Asian outlets have chicken-oriented menus.