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NEW DELHI (ANI / Kyodo) – The big trading house Mitsui & Co. and the coco house operator Coco Ichibanya, Ichibanya Co., are preparing to launch Japanese-style curries in the Indian market.
Mitsui announced Monday the creation, on June 28, of a joint venture with Ichibanya to directly manage sales outlets and franchise the famous brand of house curry throughout India, the traditional home of the spicy dish .
Capitalized at 187.5 million rupees ($ 2.7 million), Ichibanya India Pvt. Ltd belongs 60% to Mitsui and the remaining 40% to Ichibanya.
The joint venture plans to open the first point of sale in the National Capital Region of India early next year. Mitsui said in a statement that the joint venture marked its entry into the restaurant sector in India.
Ichibanya India plans to open 10 owned stores within five years of setting up its flagship store and 20 franchised stores over the next five years, a Mitsui spokeswoman told NNA, adding that She was looking for potential local franchisees.
Ichibanya India will use the same Japanese curry sauce as Japan, but can serve dishes with naan bread rather than rice, she said.
Ichibanya opened its first restaurant in Hawaii in 1994. In addition to its 1,264 points of sale across the country, the Curry House chain operated 180 outlets in 12 countries and regions at the end of June.
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