U.S. Unit of Japan's Kura Sushi Debuts on Nasdaq

Economy

New York, Aug. 1 (Jiji Press)--The U.S. unit of Japanese sushi-go-round restaurant chain Kura Sushi Inc. <2695> listed its shares on the U.S. Nasdaq stock market on Thursday.

By procuring funds and enhancing the chain's name recognition through the stock listing, the company hopes to expand its restaurant network in the United States.

The stock of Kura Sushi USA Inc. finished the first trading day at 19.61 dollars per share, up 40 pct from the pricing of its initial public offering at 14 dollars per share.

The sushi-go-round system, which allows customers to enjoy sushi easily at reasonable prices, is "the best system to spread 'washoku' Japanese cuisine around the world," Kura Sushi President Kunihiko Tanaka told a press conference.

The chain opened its first outlet in the United States in 2009 and currently operates 22 restaurants in the country. It plans to double the number of U.S. outlets by fiscal 2023.

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Jiji Press