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Friday, 24th August 2012
In Business In Japan,

European firm in $1bn buyout of Japanese sushi chain

Japan's largest chain of sushi restaurants is due to be sold to European investors at a price tag of $1 billion, it was revealed today (August 24th).

Private equity firm Permira has made the decision to purchase Akindo Sushiro and plans to make sushi a more affordable option for diners across Asia.

For those still in the dark about sushi, contrary to popular belief it is not necessarily a raw fish dish as it is often seared and left to cool before forming the topping of a rice bundle.

The raw fish variety is in fact known as sashimi and the seafood is lightly pickled in vinegar to allay fears it could be consumed uncooked. 

The type of sushi westerners are most familiar with is makizushi, which is typically a cylindrical piece of rice and fillings that is wrapped in dried seaweed - certainly worth a try!

Alex Emery, Permira's co-head of Asia, told Reuters about his hopes for the sushi company once it comes under new ownership.

"If we can find a formula that allows people to eat sushi for the price of pizza, I think you would see massive demand."

Posted by Susan Ballion