TAIPEI (The China Post) — Kura Sushi Asia raised about US$17 million while debuting over-the-counter trading on the Taipei Exchange Thursday, promising to further expand its presence in Taiwan and other parts of Asia.
The local subsidiary ended up its first session 96 percent higher than its offering price, according to Asia Nikkei, which is a good start.
The company aims to open 50 new locations in Taiwan within the next three years as well as make inroads into Southeast Asia, and beyond, the mainland Chinese market.
The goal is to reach 200 restaurants across Asia. Kura Sushi has already grown to 29 locations since entering Taiwan in 2014.
But the competition is growing rapidly, with two new Japanese chains setting up shop since Jul in addition to Japanese rivals Sushiro and Hamazushi which operate 19 and 6 restaurants in Taiwan, respectively.
The only concern is that Kura Sushi’s prices are about 35 percent higher in Taiwan than in Japan, meaning that they might be seen as expansive in Taiwan.