According to the information given by the person in charge of Yoshinoya, we can know that at this stage, Yoshinoya has about 3,300 stores worldwide, while there are more than 2,000 in Japan and more than 1000 overseas. Among them, China accounts for more than 60%. So at present, there are about 600 chain stores of Yoshinoya in China.
On July 28th, Yoshinoya announced that he would close 150 stores, including 100 stores in Japan and 50 stores in overseas areas, but the person in charge of the specific location did not disclose it, which may also involve some stores in China.
It is reported that Yoshinoya closed the store this time because of the impact of the COVID-19 epidemic. Yoshinoya mainly engaged in fast food such as mixed rice, and the audience was mainly busy office workers and student parties. However, due to the impact of the COVID-19 epidemic, enterprises stopped working and schools were closed, office workers could not go out to work normally, and students did not have to go to school. In order to avoid infection, most customers chose to stay indoors and social activities decreased, resulting in a large reduction in Yoshinoya's consumption, which led to a loss.
According to the person in charge, from March to May, 2020, the loss of Yoshinoya reached 4 billion yen in just two months, and it is estimated that the loss will reach 9 billion yen in 2020.
As a famous brand in Japan, Yoshinoya can't reduce the price of food and beverage in a short time to stimulate consumption. In order to reduce losses, he can only choose to close stores and reduce operating costs.
The COVID-19 epidemic has brought great influence and impact to the catering industry. Even big brands like Yoshinoya have been forced to close stores to reduce losses, which is a fatal blow to some small and micro catering enterprises.