Taiwan’s Eastern Food Group’s subsidiary, ANSHIN Food Company, announced a joint venture with Japan’s MOS Burger to operate the Xiamen MOS Burger’s overseas business in the long term. However, considering the overall development prospects, the board of directors has decided to reorganize and discontinue the Xiamen MOS Burger’s overseas business.
According to CNA, ANSHIN Food Company’s subsidiary, AN-SHIN FOOD SERVICES (SINGAPORE), holding a 42.64% stake, and its subsidiary Xiamen MOS Catering Management Co., Ltd., holding an indirect 42.64% stake, announced their decision to dissolve and proceed with liquidation matters on the night of the 22nd around 11:00 PM.
ANSHIN Food Company stated today (23rd) that the decision to restructure by discontinuing the Xiamen MOS Burger’s overseas business comes after careful consideration of the company’s overall development. The resources will now be focused on the Pingtung ANSHIN Agricultural Science Factory, with plans to restart once a suitable management team is in place.
It remains unclear whether this move signifies a withdrawal from the Chinese market, as ANSHIN Food Company has not confirmed and has not specified the closing time for the 6 Xiamen stores.
According to annual report data, ANSHIN partnered with Japan’s MOS in 1990 for joint venture and technical cooperation, obtaining the franchise rights for MOS Burger in markets such as Taiwan, Australia, and mainland China. In recent years, ANSHIN has successfully expanded its presence in Taiwan, with a total of 304 stores as of the end of last year. Construction of ANSHIN’s Pingtung Agricultural Science Factory is in its final completion phase.
In 2009, ANSHIN collaborated with other investors to establish AN-SHIN FOOD SERVICES (SINGAPORE) in Singapore for indirect investment to develop the MOS Burger brand in mainland China. They also set up Xiamen MOS Catering Management Co., Ltd., opening the first store in Xiamen in February 2010 and the first store in Shanghai in December 2012.
Given the sluggish post-pandemic recovery of the Chinese market, many food and beverage brands have been withdrawing their investments. Currently, Xiamen MOS Burger, operated by ANSHIN Food Company, has only 6 remaining stores in Xiamen.
Last year, Huang Maoxiong, Chairman of Eastern Food Group, revealed the intention to cooperate with Japanese partners to assist MOS Burger in entering the market in the Philippines. However, the discussions are still in the negotiation stage.