Yoshiharu, Chengdu Octday sign MoU to expand into Sichuan, China

CHINA – Japanese ramen and rolls restaurant chain Yoshiharu has signed a non-binding Memorandum of Understanding (MoU) with Chengdu Octday Entertainment Group to expand into China’s Sichuan Province.

The agreement outlines plans to open new Yoshiharu Restaurant outlets within Chengdu Octaday Entertainment Group’s extensive network of 30 corporate-owned and managed hotels across the province.

According to Yoshiharu Global, the MoU also allows both companies to explore other aspects of collaboration for mutual benefit.

The MoU includes a master franchise agreement intended to tap into the province’s 83 million-person-strong market while leveraging Chengdu Octaday Entertainment Group’s supply chain capabilities.

James Chae, Yoshiharu Group’s President, CEO, and Chairman of the Board, said, “I am pleased to announce our new strategic partnership with Chengdu Octaday Entertainment Group and our continued expansion into the Chinese market, the company’s second such announcement this month.”

“The opportunity to partner with Chengdu Octaday Entertainment Group presents multiple opportunities to introduce Yoshiharu’s expanding presence and cuisine in Sichuan Province, including Chengdu Octaday’s 30 corporate-owned and managed hotels and theme parks and other destination attractions.”

The CEO also reiterated the MoU is a reflection of the company’s strategic global expansion plan, which is currently pivoted around making forays in specific Chinese cities and provinces.

The company’s entry into Sichuan Province was announced barely a month after the Japanese ramen restaurant chain signed another MoU with the Xing Sheng Group to establish Yoshiharu’s flagship restaurant in Shenyang.

The flagship restaurant marked Yoshiharu’s entry into Liaoning province, which has a population of 43 million people.

The strategic framework of the chain’s MoU with Xing Sheng mirrors that of the Chengdu Octday Entertainment Group’s MoU.

It is also a non-binding MoU that leverages Xing Sheng’s extensive network of operated restaurants and hotels through franchise agreements. It also allows both companies to explore other avenues of cooperation for mutual benefit.

This unique franchise agreement strategy differs from the company’s expansion efforts in North America.

In June 2023, the restaurant chain expanded into the US through the acquisition of three eateries in Las Vegas.

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