Oishi Group Plc wants to become an international franchiser, starting by selling branches of its Japanese restaurants in Bangkok for the first time this year.
President Nongnuch Buranasetkul said the company plans to sell franchises for the Oishi Biztoro brand after recently opening its first branch at Central Ayutthaya.
The company plans to expand Oishi Biztoro on its own and via the franchise system. The company now operates eight Oishi Biztoro branches.
"After acting as franchisees for 4-5 years for other food brands under Thai Beverage Group, we are now looking to become an international franchiser to expand our Japanese restaurant business," she said.
The company plans to open 10-15 Oishi Biztoro branches via franchisees in Bangkok this year.
Mrs Nongnuch said the company will also focus on upgrading service quality and strengthening the operation of Hou Yuu Japanese restaurant and Shabushi by Oishi as well as refreshing each Oishi product category this year.
"We will resume heavy investment in our products with a budget of 675 million baht, 50% higher than last year's figure," she said.
Of the total budget, the majority will go to the food business and the rest will be allocated to the beverage business.
The company plans to open 30 new restaurants in various formats per year for the next three years.
More importantly, Oishi has raised its product quality by selecting choice ingredients from leading producers around the world, especially from Toyosu Market, the largest fish and seafood market in Japan.
Sales of Oishi in fiscal 2022 -- from Oct 1, 2021 to Sept 30, 2022 -- tallied 12.6 billion baht, an increase of 29.3% compared to the previous year.
Of the total, 7.29 billion baht stemmed from the beverage business, up 16.7% from the previous year, and the rest was from the food business, up 51.5% from the previous year.
The company reported consolidated net profit of 1.19 billion baht, an increase of 120% from the previous year.
The higher sales revenue and profits were attributed mainly to the beverage business which has increased significantly, and the recovery of the food business with more consumers dining at its restaurants.
Efficient cost management and ongoing control of operating costs were other factors.
According to Mrs Nongnuch, the group is innovating products and services that meet consumer lifestyles according to the Passion 2025 goals.
The company is promoting the use of innovation to develop healthier food and beverages by launching new products in line with the concept of health and wellness.
Meanwhile, it is expanding the new customer base and maintaining the existing customer base via marketing activities.
In addition, the company will drive the growth of Oishi green tea by product innovations and expanding the drinker base, especially health-conscious consumers.
Recently a new segment has been created, including zero-sugar green tea, in response to consumers paying more attention to their health.
The zero-sugar product segment represents 3% of the local green tea business worth 13.2 billion baht.
Mrs Nongnuch said the group will strengthen its business in Cambodia, Laos and Myanmar, as well as create growth opportunities in new markets in Asean countries.