LSG Sky Chefs Enters Japanese Market
Neu-Isenburg, Germany / Hong Kong, China LSG Sky Chefs announced that it has strengthened its global leadership position by entering the Japanese market. The agreement to acquire 20 percent of the shares in Cosmo Enterprise Co., Ltd. (Cosmo) from Japan Airport Terminal Co., Ltd. (JATCO), who will remain as the 80 percent shareholder, was signed today.
Cosmo was established in 1952 and provides services at Tokyos Narita (NRT) and Haneda (HND) international airports. LSG Sky Chefs has successfully provided consultancy services to Cosmo over the past two years within the framework of a technical assistance agreement. With a total workforce of 440 employees, the two catering facilities have the capacity to prepare 23,000 meals per day and currently serve American Airlines, British Airways, Cathay Pacific, China Airlines, Emirates, Qatar, Singapore Airlines and Virgin Atlantic.
NRT and HND are the busiest airports in Japan and key international hubs, making Tokyo the largest catering market in Asia/Pacific. In 2013, both airports handled nearly 39 million passengers departing on international and long-haul flights, and more than 66 million passengers on domestic and short-haul routes. As the Japanese economy recovers and the number of visitors from China and Southeast Asia continues to rise, air traffic in Tokyo is expected to grow significantly.
The market entry in Japan is an important strategic move for LSG Sky Chefs, said HK Cheung, LSG Sky Chefs RCOO Asia/Pacific. This new partnership combines the know-how of a long-established and respected Japanese service provider with our internationally recognized reputation for quality and our track-record in efficiently managing operational processes according to changing market needs.
The LSG Group is the world’s leading provider of end-to-end onboard products and services for the travel industry. It possesses a strong portfolio of independent expert brands: LSG Sky Chefs (catering and hospitality, including lounges), Retail inMotion (onboard retail), SPIRIANT (onboard equipment) and Evertaste (convenience food). The LSG Group is headquartered in Neu-Isenburg, near Frankfurt, Germany. In 2017, its almost 35,000 employees achieved consolidated revenues of EUR 3.2 billion. Additionally, the LSG Group has a rich network of joint ventures and partnerships partners around the globe, employing more than 20,000 staff and generating non-consolidated revenues of EUR 1.3 billion. www.lsg-group.com