Japanese buffet and ramen restaurant operator Oishi has revealed that it plans to move beyond the domestic market, and is gearing up for expansion into Asia initially through the export of ten of its traditional food products during the early part of 2002. With initial registered capital of around ¥27.6m (US$0.2m), Oishi has set up Oishi International to oversee the export markets.
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“The products would be marketed under the Oishi brand and exported to countries in Asia including Singapore, Malaysia and Hong Kong,” explained Tan Passakornatee, president of Oishi Restaurant Co. Furthermore, the job of manufacturing the products will be outsourced to existing plants.
By the third year of operation, the initiative is expected to drive sales of between ¥193m and ¥221m every month, rising to ¥276m after five years. “We’ve already contacted with some supermarkets to put our products on their shelves,” said Tan.
