China to Get Fast-Food Chain
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Japan’s Yaohan Department Store Co. said Wednesday that it plans to open 3,000 fast-food restaurants in China by the year 2011.
Yaohan, based in Numazu, Japan, already operates burger restaurants in Japan in a joint venture with Mos Food Services Inc. Yaohan’s U.S. subsidiary, Yaohan U.S.A. Corp. in Los Angeles, also operates a supermarket in Costa Mesa.
The China project will be launched by Yaohan and Mos plus China Venturetech Investment Co., a venture-capital firm backed by the Chinese government.
The first outlet is set to open in Shanghai by the end of this year.
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