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Future Bright Forms JV to Expand Food, Beverage Business; Shares Fall 9%

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Future Bright (HKG:0703) formed a joint venture with an independent third party to develop, operate and manage food and beverage businesses in Hong Kong, Macao and Guangdong, according to a Tuesday Hong Kong bourse filing.

Future Bright Restaurant will hold a two-thirds stake in the JV, while the partner will own one-third.

The partner is wholly owned by Japanese food-and-beverage entrepreneur Takuro Yanase, who operates four ramen restaurants in Tokyo, the filing said.

Shares of the firm were down nearly 9% in recent trading.

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