Japan Foods, which has franchised brands like Ajisen Ramen, may close more eateries as it continues to streamline operations and manage costs, after reporting a loss of $2.9 million for the nine months till Dec 31, 2024.
The group had already cut the number of its outlets from 84 to 82 at the end of 2024, it said on Feb 6 in a filing on the Singapore Exchange about its financial results.
In response to queries from The Straits Times, it said that it monitors its restaurant network closely and may not renew the leases of non-performing stores when the leases are up.
"As part of its restaurant portfolio management strategy, Japan Foods regularly reviews per-store performance and may undertake rebranding of stores to better suit the demographics at each location and optimise performance," it added.
This story is from the February 08, 2025 edition of The Straits Times.
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This story is from the February 08, 2025 edition of The Straits Times.
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