TOKYO (Reuters) – Beyond Meat Inc (BYND.O) has shelved plans to enter Japan, according to a Japan-based investor, focusing more on the U.S. market where it recently bolstered funding to fuel an expansion and beat out emerging faux-meat rivals.
Japanese trading house Mitsui & Co Ltd (8031.T), which bought a small stake in Beyond Meat in 2016, said it previously planned to partner with the U.S. company to sell plant-based meat alternatives in Japan, but there was no longer such a project.
“We look forward to bringing our revolutionary products to more countries across Asia, including Japan,” said Chuck Muth, Beyond Meat’s chief growth officer.
A Mitsui spokeswoman declined to give a reason for the change, adding that future expansion in Japan was still possible.
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