Conveyor-belt sushi dining chain Kura Sushi to open outlet in Shanghai
TOKYO, NNA – Major Japanese conveyor-belt sushi restaurant chain operator Kura Sushi Inc. will enter the Chinese market this year, having already established itself in the United States and Taiwan, to expand its store network overseas.
The firm plans to open the first dining outlet in Shanghai within this year, President Kunihiko Tanaka told reporters on Tuesday, according to a Kyodo News report.
It is also considering moving into Southeast Asian countries, he added.
In its broader efforts to beef up its foreign business, including entry into the world’s second-largest economy, the president said the dining service company hopes to double the total number of stores at home and abroad to 1,000 by 2030, with group sales of 300 billion yen ($1.24 billion), the report said.
Kura Sushi posted 136.1 billion yen in group sales in the business year to October 2019, according to its financial statement.
The Osaka-based firm opened its first outlets in the United States in 2009 and Taiwan in 2014 with the number of stores at 17 and 14 respectively as of Oct. 31, 2018, according to the company.