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Despite last week's announcement that Wendy's/Arby's Group Inc. (WEN) would withdraw from Japan, the third largest burger chain in the U.S. isn't ready to give up on Asia altogether.
Food service management company Kopitiam Group will be bringing the Wendy's fast food chain back to Singapore after an absence of more than 10 years. The group plans to open 35 Wendy's branches in Singapore over the next decade.
Kopitiam said it believes that prospects for the Wendy's franchise are strong, given the popularity of American fast food in the island city-state. Lines formed quickly when the first Wendy's outlet opened there this week.
Last week, Wendy's said that it would be closing all 71 locations in Japan as the agreement with its sole Japanese franchisee expires at the end of the year. Wendy's has been in Japan since 1980, mostly in and around Tokyo. The departure leaves larger rival McDonald's (MCD) dominant in Japan's fast-food space, with more than 3,500 locations.
Wendy's hopes its absence from Japan is short-lived, said a company spokesperson. The loss of the Japanese locations isn't expected to hurt Wendy's/Arby's finances.
Atlanta-based Wendy's/Arby's also said its looking for in-roads into China, Hong Kong and South Korea.
Wendy's shares rose on Monday 2.01%, or $0.08, to $4.06, reversing a slide that began at the first of the month.
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