||Japan : Sojitz Enters Foodservice Business in Myanmar alongside City Mart Group
||Sojitz Corporation has announced the start of a eating-out business in Myanmar together with the countrys biggest retailer, City Mart Group They plan to develop food court brand in Yangon called Tokyo Dining City. The court will be managed by Sojitz City Food Co., Ltd., a project management company founded jointly by Sojitz and CMGs food import and wholesaling company Artic Sun Co., Ltd.
The first food court is scheduled to open in March. It will be attached to one of CMGs high-end Market Place supermarkets within Sule Square, an office building complex which just opened in downtown Yangon. The court will mostly target office workers employed in the Sule Square building or in the vicinity, providing a full menu of primarily Japanese foods.
The venture will collaborate with CMGs supermarket and hypermarket businesses to open more restaurants in a way appropriate to the location in question. They have set their sales target at more than 500 million yen in sales by 2020.
Sojitz has previously been involved with a joint cold chain logistics business with CMG in Myanmar, providing business support to CMGs food import and wholesaling business. Now through their involvement in this eating-out business, Sojitz will also enter into Myanmars retail sector. Sojitz will continue constructing a food-based value chain in Myanmar centered on customer safety, responding to the growing demands of Myanmar consumers, and helping to create a rich food culture in the country.
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