Japanese fast-food chain Ringer Hut is preparing to launch in the Philippines.
The Tokyo-based firm will open a joint venture with local partners, taking a 40 per cent stake in the new business.
The company had previously indicated that legal advice showed the partnership could proceed if the equivalent of US$2.5 million minimum was invested.
Ringer Hut currently operates 600 stores in Japan, and has 16 stores in five other Asian countries, including Hong Kong, and in the US. It is also preparing to open in Vietnam. The chain’s stated goal is to run 50 international stores by 2020.
Inside Retail Asia