KDDI announced that it will end the food delivery business operated by its subsidiary menu at the end of September and liquidate the company. It is currently organizing related assets, including its advertising business, and plans to acquire the remaining shares by the end of August to make menu a wholly owned subsidiary.
KDDI announced on the 19th that its subsidiary menu will end its food delivery business at the end of September. It plans to liquidate the company after the business ends, citing intense competition for market share with rival services and its judgment that profitability is unlikely to improve.
menu was established in 2018. KDDI invested in the company in 2021 and made it a subsidiary in 2023 by acquiring more than 50% of its shares. The company explained that the slowdown in market expansion following the end of the COVID-19 pandemic also affected its decision on whether to continue the business.
KDDI plans to acquire all of the remaining menu shares held by レアゾン・ホールディングス, which operates businesses including advertising, at the end of August. It plans to liquidate menu after making it a wholly owned subsidiary. menu's corporate entity is therefore expected to be dissolved.
Kyodo News reported the announcement, describing the end of menu's service as a measure prompted by changes in the market environment and intensifying competition. Details of the subsequent procedures and liquidation process will depend on future official updates.