Genki Global Dining Concepts is considering opening stores in Vietnam and Texas, USA, in 2025. (Source: Reuters)

According to Nikkei Asia, Genki Global Dining Concepts, the operator of Genki Sushi, Uobei, and Senryo brands, has identified global expansion as a priority in its medium-term plan through financial year 2027.

The firm achieved JPY61.8 billion (US$395 million) in revenue for financial year 2023, with 14% coming from international markets. It aims to double total revenue and increase international contributions to 20% by financial year 2030.

In October 2024, Genki opened its first restaurant in Thailand, offering localized menu items like tuna and salmon paired with coriander and spicy sauces. It plans to open its first restaurant in Vietnam in 2025, with a target of operating four locations by 2027.

In addition, the firm will also open its first Texas outlet in the US in 2025, focusing on upscale dining tailored to middle-income customers. This marks a departure from its conveyor belt sushi model in Hawaii and Washington.

Vietnam is an attractive investment destination for foreign firms, including those from Japan, thanks to its conducive investment climate, a large market of more than 100 million consumers, and a large and affordable labour force, among others.

In recent years, Vietnamese consumers have increasingly favoured Japanese cuisine, especially sushi. Rising incomes and the growth of the middle class have boosted spending on premium food options.

Vietnam is witnessing a surge in international restaurant brands, and diners are seeking unique and new dining experiences. A brand like Genki Sushi can leverage this opportunity to attract customers.

The increasing number of Japanese tourists visiting Vietnam creates an opportunity to serve both local and international customers. Additionally, the strong Vietnam-Japan economic cooperation fosters a favourable business environment for Japanese companies.