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Japanese firms Royal Holdings Co., Choushimaru Co., and the Sojitz Corporation are collaborating on a new venture, SUSHI-TEN USA, headquartered in Irvine, California, with an initial capital of USD 6 million (EUR 5.6 million). This venture aims to introduce a fresh line of Japanese sushi tailored specifically for the US market, as detailed in their joint press release.
Highlighting the allure of the US market with its expansive scale, diverse culinary landscape, and burgeoning demand for Japanese cuisine, the companies expressed their enthusiasm for this venture. SUSHI-TEN USA intends to closely monitor consumer preferences and tastes in the region to innovate its business model, the trio of firms stated.
While upscale sushi establishments have traditionally set trends in the US, the recent trend has shifted towards localized and more casual consumption, resulting in a consistent rise in sushi consumption and demand annually, the companies noted. They emphasized the longstanding Japanese culinary influence on the US West Coast, particularly in California, home to a multitude of Japanese restaurants, thereby fueling the sushi trend in the country.
Royal Holdings Co., headquartered in Fukuoka, Japan, holds the majority stake in SUSHI-TEN USA at 34 percent. The company, renowned for its Royal Host and TENYA restaurant chains, specializes in various hospitality services, including airport and highway terminal catering, hotel management, and foodservice product supply.
Choushimaru Co., based in Chiba, Japan, operates 88 sushi conveyer-belt restaurants across Japan under various gourmet chains. Meanwhile, Sojitz Corporation, a trading company headquartered in Chiyoda City, Tokyo, resulted from the merger of Nichimen Corporation and Nissho Iwai Corporation. Each company brings its unique expertise to the joint venture, aiming to create synergistic value collectively.
Choushimaru and Sojitz each hold a 33 percent stake in the venture, illustrating a balanced partnership among the three entities. The collaboration between Royal Holdings and Sojitz, solidified through a capital and business partnership in February 2021, has propelled their shared vision for international expansion, with the recent opening of a Royal Host restaurant in Singapore marking their inaugural venture outside Japan, according to reports from Nippon.com.
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