SINGAPORE (Dec 10): RHB Research is maintaining “neutral” on Japan Foods with a target price of 48 cents, post the announcement of the group’s 50:50 joint venture (JV) with Minor Singapore.

To recap, Japan Foods recently signed a memorandum of understanding with Minor which will enable the former to bring Minor’s Thai restaurants to Japan, while the latter expands Japan Foods’ Japanese restaurant brands in Thailand and China.

In a Monday report, analyst Shekhar Jaiswal says he views the proposed JV positively as this will enable Japan Foods and Minor to leverage on each other’s operational strengths and industry experience, as well as their respective culinary expertise, while ensuring a much wider geographic presence for both entities.

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