Japanese restaurant operator and consulting firm Food Innovators Holdings (FIH) debuted on 16 October 2024 on the second section of the Singapore Exchange, aiming to widen its business in Southeast Asian markets.
A Kyodo News report published by the Mainichi stated that after precision component manufacturer Miyoshi, FIH has become the second Japanese firm to be listed on the Singapore Exchange’s Catalist – a market for up-and-coming companies.
Established in 2011, FIH operates Japanese restaurants, such as Tendon Kohaku, via collaborations with other Japanese firms in Singapore.
It operates 26 restaurants, one bakery café and one central café bakery kitchen, according to a report in The Edge Singapore, along with restaurants in Malaysia.
It issued 14 million shares in its initial public offering (IPO) to raise S$3.1m ($2.4m). The IPO closed on 14 October 2024.
The Straits Times has reported that the company plans to allocate its IPO proceeds toward introducing new Japanese brands and concepts in Singapore and Malaysia, as well as acquiring rights to operate more themed restaurants in Japan and other markets.
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By GlobalData
In mid-October 2024, FIH CEO Yasuaki Kubota told Kyodo News that Singapore’s well-established financial and legal infrastructure makes it “an excellent base” for Japanese food businesses aiming to enter Southeast Asian markets. Kuboto emphasised that listing on the Singapore exchange “enhances our credibility.”
According to data from the Japanese Ministry of Agriculture, Forestry and Fisheries, Singapore is home to more than 1,200 Japanese restaurants.
