Yoshinoya lost at least a few hundred million dollars in the wake of the epidemic.

Japanese fast-food chain Yoshinoya has released its 2020 financial report. The data shows that Yoshinoya's net loss for 2020 is up to 7.5 billion yen. The main reason for the loss is a sharp decline in turnover due to the impact of the new Crown Pneumonia epidemic. Currently, Yoshinoya has more than 1,000 overseas stores around the world, of which Chinese stores account for more than 60 percent.

Yoshinoya, which was founded in 1899, is understood to have announced last year that it would close 150 stores globally by February 2021 in order to cut costs, and that it plans to launch a licensed takeout service in Japan. In this regard, Yoshinoya responded that the reason for the closure of stores is that the epidemic has led to some loss-making stores to stop losses. It is reported that behind the domestic Yoshinoya stores, there are two operating entities, one is Japan Yoshinoya, a Hong Kong-listed company and Xing Group. The Wo Hing Group operates Yoshinoya in northern China by virtue of a long-term franchise agreement with Japan's Yoshinoya.

The store closure program does not include Yoshinoya stores operated by the Wo Hing Group, said the person in charge of Wo Hing Group, Yoshinoya's domestic franchisee. Everything is currently operating normally, with stores still open in Beijing.

Yoshinoya is a Japanese beef and rice specialty restaurant founded in 1899, which opened its first branch in Japan's Tsukiji fish market.

Yoshinoya? The name comes from the name of the place, Yoshinoyama, Japan, which is best known for its beef and rice. It is said that in the 12th century, when the consort of the famous Japanese general Yuan IJing was still hiding from IJing, she taught the local residents the skill of making beef and rice in Mt. Yoshino, so the beef and rice became a local specialty, which is very delicious. Yoshinoya was named so to show that its beef rice was authentic. In the decades that followed, Yoshinoya stood on its own merits and soon dominated half of Japan's restaurant market. But the good times didn't last, and the onslaught of the new Crown Pneumonia epidemic caused Yoshinoya's performance to plummet.

Well, that's all we have to share in this issue.