Business / Corporate

Sushi chain Sushiro posts robust sales in Hong Kong despite unrest

Nna/kyodo

Leading conveyer-belt sushi restaurant chain Sushiro Global Holdings Ltd.’s third overseas outlet in Hong Kong is posting robust sales despite continuing unrest.

Opened in August, its first Hong Kong restaurant posted record monthly sales in September among its outlets, including those in Japan, selling more than ¥80 million ($735,000) worth — about twice the revenue of an average Sushiro Japanese restaurant, company President and CEO Koichi Mizutome said in Tokyo on Thursday.

Hong Kong sales in October and November remained strong, although the outlets had to advance their closing time following a series of massive protests, Mizutome said.

Sushiro is considering venturing into mainland China and Southeast Asian countries, with Hong Kong and Singapore as its respective bases, he said, adding that “the time is not ripe when seen from the perspective of China as a whole” but that “the markets in Shenzhen and Guangzhou in Guangdong province, both adjacent to Hong Kong, are maturing.”

He said its Singaporean unit, which also opened in August, has posted similarly good results, selling around 50 percent more than its average restaurant in Japan, and cited Malaysia, Thailand and Indonesia as the next target markets in the region.

Under its medium-term business plan, which includes overseas expansion, the Osaka-based firm aims at overseas sales of ¥20 billion in the fiscal year through September 2021.

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