Chikaranomoto Holdings (3561) · InitiativeAchieved
Dissolution of the PANDA EXPRESS Joint Venture and Direct Operation of All U.S. IPPUDO Locations
First written in FY2022-Q3. 1 of 2 entries say "Achieved", first in FY2022. Latest entry: FY2022.
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Dissolution of the PANDA EXPRESS joint venture and direct operation of US IPPUDO storesA theme 1 companies write about · 0 as a headwind · 1 as a tailwind
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- FY2022AchievedAnnual report
「As a result, I&P RUNWAY JAPAN was excluded from the scope of consolidation, and I&P RUNWAY became a wholly owned subsidiary of our company.」
On 1 March 2022, the Japanese PANDA EXPRESS joint venture was dissolved and I&P RUNWAY Co., Ltd. in the United States became a wholly owned subsidiary. - FY2022-Q3First statedAnnual report
「The parties entered into this agreement after reaching the conclusion that it would be in both parties' best interests for PRG to operate PANDA EXPRESS directly in Japan, while the Group concentrates its management resources on the IPPUDO business and converts all U.S. locations to direct operation to maximize operating efficiency and service quality.」
Regarding the joint venture with Panda Restaurant Group, Inc., a restructuring was decided under which PRG would operate the PANDA EXPRESS business in Japan directly and the Group would concentrate on the IPPUDO business. The Group's subsidiary plans to make the company operating IPPUDO and KURO-OBI locations on the U.S. West Coast a wholly owned subsidiary on 1 March 2022 and convert the U.S. locations to direct operation.