TOKYO -- Japan's Mos Burger will open its first restaurant in the Philippines by the end of next March, the fast-food chain's operator said Thursday, marking its first expansion into a new market in seven years.
Mos Food Services, together with local peer Tokyo Coffee Holdings, will set up a joint venture as early as August. Tokyo Coffee will own a 65% majority stake in Mos Burger Philippines, while Mos Food will hold the rest. The venture's first restaurant will be located in the Manila area, with the goal of running a chain of 50 outlets by 2027.
