Japan Foods inks joint venture agreement to launch Michelin-starred ramen brand in Hong Kong

Konjiki Hototogisu is set to open by end-2019.

Singapore-based Japan Foods has acquired 30% of Wakayama from Ajisen Investments for US$15,000 (approximately SG$20,400) and entered into a shareholders’ agreement for a joint venture to introduce the Michelin-starred “Konjiki Hototogisu” ramen brand in Hong Kong.

This will be the group’s second brand in the market after “Menya Musashi”.

Both Ajisen Investments and Japan Foods shall provide funding to Wakayama through a shareholders’ loan amounting to HK$3.5m and HK$1.5m respectively for both fees and royalty payments and working capital. Wakayama incorporated Success Asia Limited, a subsidiary company, to undertake the business.

“In Singapore, the response to the brand has been very encouraging since it was introduced in June 2018 and we now have four stores across the island in just over a year. We are optimistic that the Hong Kong market will respond the same way to the brand,” Japan Foods executive chairman and CEO Takahashi Kenichi said in a media release.

Japan Foods already has an existing partnership with Ajisen China that involves the operation and management of the Group’s “Menya Musashi” branded restaurants in Hong Kong through associated companies.

Wakayama’s Board will comprise one person nominated by Japan Foods and two persons from Ajisen Investments.

Also Read

Paris Baguette Singapore opens first “café-retail” concept

Japanese sushi chain Sushiro to take on McDonald's in U.S. – report

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit