JOLLIBEE Foods Corp. reopened the Yoshinoya branch in Glorietta 1 mall on Aug. 19 as part of its joint venture with Yoshinoya International Philippines, Inc. (YIPI), the firm said on Tuesday.
The branch was originally opened in 2012 and was redesigned and relaunched to adapt a contemporary and casual Japanese style.
“Giving Filipinos the authentic Yoshinoya experience is an important milestone for us at Jollibee Foods,” said Joseph C. Tanbuntiong, Jollibee president for Philippine business, in a press release.
“This is our first time to serve Japanese cuisine, and we’re proud to have partnered with the best Japanese food chain, Yoshinoya International,” he added.
In June 2021, the Jollibee group formed a 50-50 joint venture with YIPI — the Philippine subsidiary of Asia Yoshinoya International Sdn. Bhd. and Yoshinoya Holdings Co. Ltd. — to operate and expand the Yoshinoya brand in the Philippines.
The partnership established Yoshinoya Jollibee Foods, Inc., which will operate the Yoshinoya stores in the country with a plan of expanding Yoshinoya’s store network to 50 stores in the long term.
“Yoshinoya has now teamed up with the greatest partner, Jollibee Foods. I have high hopes that, together, we will create a company that will bring joy to new customers in an even bigger market,” Asia Yoshinoya International Chief Executive Officer Tetsuya Naruse said.
Kazuhiko Koshikawa, the ambassador of Japan to the Philippines, said: “Filipinos can once again indulge in Yoshinoya’s taste. It will be very awesome if Filipinos will enjoy this Japanese favorite with the same quality and price here in the Philippines.”
Apart from the Glorietta 1 branch, “customers may also enjoy Yoshinoya’s beefed-up menu and contemporary and casual Japanese-style stores in the redesigned store in SM North EDSA, and the news stores in Eastwood and SM Grand Central in Caloocan,” a Jollibee representative said in a text message.
Yoshinoya is the newest addition to the Jollibee group’s foreign franchised brands, which include: Burger King, PHO24, and Panda Express.
“These foreign franchised brands are expected to contribute to the sustainable growth of Jollibee Group’s domestic business.” the company said.
At present, Yoshinoya has over 2,000 locations around the world, which include the Philippines, Japan, the US, Hong Kong, China, Singapore, Malaysia, Taiwan, Indonesia, Thailand, Cambodia, and Vietnam.
Meanwhile, Jollibee operates in 34 countries, with over 6,200 stores globally. It has eight wholly owned brands: Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, and Smashburger.
On Tuesday, shares in Jollibee dropped by P2 or 0.86% to P231 apiece. — Justine Irish D. Tabile