TYO:9861

Yoshinoya Board Approves Acquisition of 70% Stake in US-based Kizuki International

Yoshinoya (TYO:9861) said its board approved the acquisition of a 70% equity interest in the US-based ramen restaurant operator Kizuki International through its unit, Yoshinoya US Holdings, according to a Tokyo bourse filing on Monday.The Tokyo-listed company said that the stake will be acquired from Bestasiangrocer.com, which holds 97.66% of Kizuki, and the consideration will include cash and a private placement of treasury shares.Meanwhile, the board approved a membership interest purchase agreement to accelerate the growth of the ramen business in the US market.