JAPAN’s Koshidaka Holdings Co. Ltd. is eyeing partnerships with major mall develop-ers in building family entertainment centers in the country, pledging P2.5 billion in investments in the Philippines, the Department of Trade and Industry (DTI) said yesterday.
In a briefing, DTI Secretary Cristina Roque said during a meeting with her on March 4 in To-kyo, Koshidaka Holdings officials pledged to invest P2.5 billion in the Philip-pines.
Roque said the company is eyeing partnerships with major mall developers in build-ing family entertainment centers that would include Japanese traditional onsen, kar-aoke and women-oriented gyms.
A delegation from Koshidaka will visit the Philippines in April to meet with develop-ers’ offi-cials and scout sites for their businesses in the country, she added.
Roque said she has spoken to officials of SM Malls, Ayala Malls, Robinsons and Gaisa-no who have expressed interest in hosting Koshidaka’s business establishments.
The company, Roque said, eyes to open its first store in Metro Manila by the end of 2025, with plans to expand to 30 locations and eventually to 100 locations nation-wide.
Koshidaka sees a huge potential for its businesses in the Philippines with the latter’s large population and family-oriented culture, she added.
In Japan, Roque said, Koshidaka operates 617 facilities measuring anywhere from 500 to 1,000 square meters per site.
For the Philippines, it is eyeing sites in malls, condominium complexes and buildings where its businesses can operate outside mall hours, she added.
Roque said the Philippines forms part of Koshidaka’s Southeast Asian expansion after having established presence in Malaysia and Indonesia.
At its board of directors meeting last month, the karaoke chain operator resolved to estab-lish a subsidiary in the country as part of its “strategic expansion into the Philip-pine mar-ket,” Koshidaka’s note to shareholders posted on its website showed.
“As a key initiative in our Southeast Asia growth strategy, we aim to offer a safe, en-joyable, and affordable karaoke experience in this rapidly developing market. Lever-aging our expertise gained in Japan and Asian countries, we will develop a business model tailored to the Philippine market and introduce a new style of karaoke enter-tainment,” it added.
The subsidiary, tentatively named Koshidaka PH, will operate karaoke stores in the Philippines.
With a capital of P25 million, Koshidaka PH is 100-percent owned by Koshidaka Holdings.
The company said the Philippine business will take approximately three months to set up.
