Yoshiharu Global Co. (Nasdaq: YOSH) has entered a memorandum of understanding with China-based Xing Sheng Group to open a flagship restaurant in Shenyang, China.
Xing Sheng counts ventures in real estate, investments, and film production, and operates 17 subsidiaries across China.
The master licensing agreement covers the entire Liaoning Province. Yoshiharu’s first international location will be built within a water park that Xing Sheng’s real estate arm is currently developing in the province’s capital city of Shenyang.
“We plan to explore further collaborative opportunities with Xing Sheng Group, aiming to potentially partner with its other subsidiaries to support Yoshiharu’s expansion across strategically important Chinese cities and provinces,” Chief Executive James Chae said in a statement.
In other expansion efforts, the ramen chain received a $1 million private equity investment last week to help them establish a footprint in the Korean BBQ segment. Founded in 2016, Yoshiharu currently operates 14 locations in the U.S. with two more currently under construction.
Shares were up 1% to $5.85 apiece during midday trading with a market cap of $8.1 million.
