Burger chain operator, Mos Food Services Inc, from Japan will open its first Philippines outlet by the end of March 2020, in partnership with a local dining chain. The company plans to establish Mos Burger Philippines Inc in 2019 alongside the Philippines’ Tokyo Coffee Holdings Co, targeting 50 stores by the end of the 2027.
Tokyo Coffee, which operates restaurants offering Japanese food in the Philippines, is a business arm of major feed and flour-maker General Milling Corp. Mos chose Tokyo Coffee as its partner due to the company’s expertise in production and logistics Infrastructure, as well as its knowledge of local demand.
Under the agreement, Tokyo Coffee will own 65% of the joint venture and Mos Food 35 percent. The two companies aim to cash in on the growing middle class in the Philippines. The Philippines is home to a population of over 100 million, with the average age of 24.
Mos Food’s entry in the South East Asian country is its first new foray into a foreign market in seven years, following South Korea in 2012.
(Sources: The Japan Times; Nikkei Asian Review)