Wendy’s/Arby’s International Inc., a subsidiary of Wendy’s/Arby’s Group Inc. WEN recently announced that it has entered into a development agreement with Higa Industries Co. Ltd. to expand in Japan. Per the deal, Higa Industries will develop and operate Wendy’s restaurants throughout the country in the coming years. The terms of the deal were not disclosed. The first location is expected to open in Tokyo later this year.The latest deal with Higa Industries will mark Wendy’s return to the Japanese market after it called off its franchise agreement in that country back in 2009. Wendy’s had decided against renewing its contract, citing its franchiser’s tardy development. This resulted in the closure of 71 restaurants in that country.Higa Industries, led by Ernest Higa, boasts of local market knowledge and has a proven track record of venturing into industries as diverse as lumber, medical and the restaurant, within the Japanese market. It had owned and operated 180 stores of Domino’s Pizza Inc. NYSE: DPZ – News in Japan before selling this business in February 2010.
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