CHINA – Japanese restaurant operator Yoshiharu Group has entered into a non-binding memorandum of understanding (MoU) agreement with conglomerate Xing Sheng Group to open Yoshiharu’s first restaurant in Shenyang, China.

The MoU was formalized via a master license agreement and will see Yoshiharu enter the Chinese market, further expanding its global footprint.

The flagship restaurant will be located in Liaoning Province, which has a population of 43 million people.

Xing Sheng Group is known for developing tourist attractions in the city, including the largest water park in China.

The collaboration provides Yoshiharu with a strategic position within the water park, which seeks to attract both local and international visitors.

James Chae, Yoshiharu President, CEO, and Board Chairman said, “The opportunity to work with Shenyang Yongsheng and establish a location within their water park presents a strategic opportunity and a prime location to grow our brand within the country while benefitting from the steady flow of visitors attracted to the park’s entertainment offerings.”

“We plan to explore further collaborative opportunities with Xing Sheng Group, aiming to potentially partner with its other subsidiaries to support Yoshiharu’s expansion across strategically important Chinese cities and provinces.”

The MoU is an extension of Yoshiharu’s aggressive Asian-centered expansion strategy.

It was announced barely a day after the restaurant operator announced the successful closure of a non-brokered US$1 million private investment meant to facilitate the restaurant’s entry into the promising Korean BBQ (KBBQ) segment.

The KBBQ segment is particularly attractive because of its marinade, a typical mixture of sesame oil and gochujang (a red curry paste), popular among many restaurant enthusiasts. It also stems from the fact that most KBBQ restaurants allow customers to grill their meat.

The Japanese operator reiterated the decision to venture into the Korean market was also informed by the potential synergies that exist between its Japanese culinary offerings and the Korean BBQ concept.

In late June, Yoshiharu announced it had successfully concluded the acquisition of three Las Vegas Asian dining concepts- the Jjanga, HJH, and Ramen Aku restaurants- from an undisclosed seller.

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