Newscasts - Japan's Yoshinoya bets big on ramen noodles
19/05/2025 13:47
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_uwm3nwbj&referenceId=tag:reuters.com,2025:newsml_RW534419052025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: Japan's Yoshinoya said on Monday (May 19) it was betting on ramen noodles for its next phase of growth, looking to turn it into a third business pillar along with 'gyudon' beef bowls and udon noodles. Alice Rizzo reports. Short Link: https://refini.tv/3GZUMma Video Transcript: Japan's Yoshinoya is looking to ramen noodles for its next phase of growth. Known for its gyudon beef bowls and udon noodles, Yoshinoya now hopes to turn ramen into a third business pillar. In its new five-year growth plan, the fast-food chain operator said it's aiming for a tenfold jump in operating profit from the ramen business to around $28 million. By February 2035, Yoshinoya said it hopes to become the world's leading ramen seller. This ambitious plan comes at a challenging time for Japanese restaurant chains. They're facing higher food prices, especially from domestic rice and US beef, all while navigating the difficulty of raising prices in a country emerging from years of deflation. But incoming CEO, Tetsuya Naruse, is optimistic and sees significant potential for ramen in markets overseas. Yoshinoya projects its ramen business will generate JPY40 billion which is around $276 million in revenue by the 2029 financial year. This would make up 13% of total sales, a significant jump from just 4% last year. Yoshinoya plans to expand its ramen business further through inorganic growth, with more acquisitions on the horizon.