Toridoll Corporation announces Joint Venture with a subsidiary of The Boutique Group of Companies to expand Marugame Seimen udon restaurants in Thailand
Nikkei listed Toridoll Corporation Ltd., the operator of Japan's largest udon restaurant chain "Marugame Seimen", has formed a joint venture partnership with Nodu Foods Ltd., until now a wholly owned subsidiary of Boutique Group of Companies, to rapidly expand Marugame Seimen in the Thai market.
Under the joint venture partnership, the partners will accelerate their plan to expand Marugame Seimen outlets in Thailand to 3the joint venture branches by March 2the joint venture15, one year earlier than originally planned, following the successful launch of the first 9 outlets in Thailand. This partnership is a key milestone for Marugame Seimen in its aim to become a global restaurant brand and to promote the Japanese udon boom in Southeast Asian countries including Thailand.
Under the joint venture partnership, the partners will accelerate their plan to expand Marugame Seimen outlets in Thailand to 3the joint venture branches by March 2the joint venture15, one year earlier than originally planned, following the successful launch of the first 9 outlets in Thailand. This partnership is a key milestone for Marugame Seimen in its aim to become a global restaurant brand and to promote the Japanese udon boom in Southeast Asian countries including Thailand.
Mr. Takaya Awata, President of Toridoll Corporation Ltd., said the company has started business in Thailand after its udon restaurant chain "Marugame Seimen" had been franchised to Nodu Foods, until now a wholly owned subsidiary of Boutique Group of Companies, in 2012. Currently, there are 9 Marugame Seimen outlets in Thailand in prime locations, namely, Rain Hill Sukhumvit 47, the Promenade, Future Park Rangsit, Pacific Park Sriracha, the Mall Ngamwongwan, Laemtong Shopping Plaza Rayong, Laemtong Shopping Plaza Bangsaen, Robinson Department Store Saraburi and Robinson Department Store Bangrak. The company foresees huge potential in the Thai market for Japanese food restaurants, hence forming a joint venture with Nodu Foods Ltd. to rapidly expand Marugame Seimen restaurants in Thailand.
Mr. Awata said that the joint venture is aimed at growing the Japanese food popularity in the Southeast Asia region, starting with Marugame Seimen in Thailand. Furthermore, Toridoll Corporation Ltd. aims to build Marugame Seimen as a leading world-class restaurant chain with an aim to gain wide recognition and popularity from consumers.
"We foresee that the Thai market has huge potential for the Japanese restaurant business and decided to form a joint venture with Nodu Foods. Marugame Seimen first opened in 2012 and we target to open 30 Marugame Seimen outlets in Thailand by March 2015, which is one year faster than the previous plan of March 2016," Mr. Awata said.
Mr. Awata talked about the joint venture partnership where Toridoll Corporation will hold a 40% stake in Nodu Foods and will take part in operating and managing Marugame Seimen restaurants in Thailand. As a result, the company can transfer its management knowledge to the Thai operations. Meanwhile, Thai customers can also enjoy eating udon in an authentic Japanese style with freshly made and freshly boiled udon. Regarding the business expansion in Thailand, he stated that Toridoll Corporation Ltd. is interested in expanding the business in the Thai market beyond the udon concept.
Mr. Prab Thakral, Group Chief Executive Officer of Boutique Group of Companies, said that the investment in Marugame Seimen is in line with the company's business diversification from its core business in real estate to other businesses such as the quick service restaurant and casual dining sector.
"We are pleased to have Toridoll Corporation Ltd. as our joint venture partner to expand Marugame Seimen in Thailand. From both companies’ combined strength and expertise, we are confident Marugame Seimen will excel in its expansion and continue to gain loyal customers in Thailand and beyond. We further look forward to launching more Japanese food concepts with Toridoll Corporation" Mr. Prab Thakral said.
The Boutique Group of Companies is a leading property developer and real estate service provider in Thailand, focusing on high quality mid-market serviced residences and hotels. The group currently owns different hospitality assets under the brands Citadines, Oakwood and other well-known hospitality brands across Thailand. The group intends to further expand its hospitality development platform across Thailand in addition to its recent diversification into Marugame Seimen udon restaurants. Furthermore, Boutique Group of Companies has diversified into the retail development and condominium development sectors with Rain Hill on Sukhumvit 47, an award winning community mall and the development of Treetops Condominium in Pattaya.
Marugame Seimen is the number one original udon restaurant chain in Japan, with more than 770 outlets in its home base, and is the fastest growing chain with more than 120 outlets opened per year since 2009.
Toridoll Corporation opened its first Marugame Seimen restaurant in 2000. As of November 2013, there are 819 outlets of Marugame Seimen globally, of which 772 are in Japan, 20 in China, 9 in Thailand, 5 in Russia, 4 in South Korea, 3 in Hong Kong and 2 in Indonesia, Taiwan and Hawaii each. Marugame Seimen restaurant is unique and outstanding by its dining style, allowing customers to select their choices of toppings for udon.
The company targets to expand more than 100 Marugame Seimen restaurants in Europe and Asia by 2015.
Mr. Awata said that the joint venture is aimed at growing the Japanese food popularity in the Southeast Asia region, starting with Marugame Seimen in Thailand. Furthermore, Toridoll Corporation Ltd. aims to build Marugame Seimen as a leading world-class restaurant chain with an aim to gain wide recognition and popularity from consumers.
"We foresee that the Thai market has huge potential for the Japanese restaurant business and decided to form a joint venture with Nodu Foods. Marugame Seimen first opened in 2012 and we target to open 30 Marugame Seimen outlets in Thailand by March 2015, which is one year faster than the previous plan of March 2016," Mr. Awata said.
Mr. Awata talked about the joint venture partnership where Toridoll Corporation will hold a 40% stake in Nodu Foods and will take part in operating and managing Marugame Seimen restaurants in Thailand. As a result, the company can transfer its management knowledge to the Thai operations. Meanwhile, Thai customers can also enjoy eating udon in an authentic Japanese style with freshly made and freshly boiled udon. Regarding the business expansion in Thailand, he stated that Toridoll Corporation Ltd. is interested in expanding the business in the Thai market beyond the udon concept.
Mr. Prab Thakral, Group Chief Executive Officer of Boutique Group of Companies, said that the investment in Marugame Seimen is in line with the company's business diversification from its core business in real estate to other businesses such as the quick service restaurant and casual dining sector.
"We are pleased to have Toridoll Corporation Ltd. as our joint venture partner to expand Marugame Seimen in Thailand. From both companies’ combined strength and expertise, we are confident Marugame Seimen will excel in its expansion and continue to gain loyal customers in Thailand and beyond. We further look forward to launching more Japanese food concepts with Toridoll Corporation" Mr. Prab Thakral said.
The Boutique Group of Companies is a leading property developer and real estate service provider in Thailand, focusing on high quality mid-market serviced residences and hotels. The group currently owns different hospitality assets under the brands Citadines, Oakwood and other well-known hospitality brands across Thailand. The group intends to further expand its hospitality development platform across Thailand in addition to its recent diversification into Marugame Seimen udon restaurants. Furthermore, Boutique Group of Companies has diversified into the retail development and condominium development sectors with Rain Hill on Sukhumvit 47, an award winning community mall and the development of Treetops Condominium in Pattaya.
Marugame Seimen is the number one original udon restaurant chain in Japan, with more than 770 outlets in its home base, and is the fastest growing chain with more than 120 outlets opened per year since 2009.
Toridoll Corporation opened its first Marugame Seimen restaurant in 2000. As of November 2013, there are 819 outlets of Marugame Seimen globally, of which 772 are in Japan, 20 in China, 9 in Thailand, 5 in Russia, 4 in South Korea, 3 in Hong Kong and 2 in Indonesia, Taiwan and Hawaii each. Marugame Seimen restaurant is unique and outstanding by its dining style, allowing customers to select their choices of toppings for udon.
The company targets to expand more than 100 Marugame Seimen restaurants in Europe and Asia by 2015.
ข่าวthe joint venture+Joint Ventureวันนี้
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