On May 7, Fukuoka-based Chikaranomoto Holdings, operator of the ramen chain Hakata Ippudo, announced that it will form a joint venture with California (USA)-based Panda Restaurant Group, an operator of Chinese restaurants in the United States. The new venture, dubbed I&P Runway, will be established in California and will operate a chain of casual restaurants that primarily serve ramen. Chikaranomoto Holdings will control 51% of the company and aims to open a flagship Ippudo shop before year’s end. It plans to start opening outlets in several major US cities from 2016 onwards. To aid its expansion, Chikaranomoto felt the need to team up with a local company equipped with ample distribution and procurement know-how. Source: Nikkei Shimbun online 5/8
