Japan’s Yoshinoya to set up a US$2.7 million joint venture in the Philippines with local giant Jollibee Foods

PHILIPINES – Japanese multinational fast food restaurant Yoshinoya has announced plans to set up a US$2.7 million joint venture in the Philippines with local giant Jollibee Foods Corporation (JFC). According to a report by Nikkei Asia, the joint venture will see the two companies team up to open 50 branches of the famed Japanese beef bowl restaurant in the Philippines. The joint venture which will become the franchisee of Yoshinoya comes after the company’s 20-year partnership with Century Pacific group ended recently. “Jollibee will certainly have a significant positive impact…

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Jollibe Foods plans US$138m investment in restructuring drive

PHILIPPINES – Jollibee Foods Corporation, a Filipino multinational chain of fast food restaurants has earmarked US$138 million (7 billion pesos) to steer its global business restructuring triggered by the coronavirus pandemic. In a disclosure to the Philippine Stock Exchange, Jollibee said the planned changes will take place in the company’s businesses around the world, especially in its largest markets – the Philippines, China, and North America, a report by DealStreet Asia reveals. The fast-food chain giant, which operates nearly 3,300 restaurant outlets in the Philippines and has a global store…

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