Benihana Inc. Signs Franchise Agreement to Open New Restaurant in Milwaukee.Business Editors MIAMI--(BUSINESS WIRE)--March 21, 2000 Benihana Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NMS See NetWare Management System. : BNHN and BNHNA) announced today that it has signed a franchise agreement to open a new Benihana Japanese teppanyaki restaurant in downtown Milwaukee, Wisconsin For other places with the same name, see Milwaukee (disambiguation). Milwaukee is the largest city within the state of Wisconsin and 25th largest (by population) in the United States. . The planned approximately 8,000-square-foot restaurant is scheduled to open in October 2000. It will be the Company's 14th franchised Benihana. Total revenues from franchised operations for the prior fiscal year were approximately $25 million. The Benihana franchise program is gaining momentum, evidenced by recent openings in Anchorage Anchorage (ăng`kərĭj), city (1990 pop. 226,338), Anchorage census div., S central Alaska, a port at the head of Cook Inlet; inc. 1920. , Alaska, Austin, Texas and Lima, Peru, with planned expansion in the coming year in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , Milwaukee, Wisconsin and additional growth in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . "Franchised Benihana restaurants which adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. our style of food preparation and quality of service make enormous sense," said Joel A. Schwartz, Benihana's president. "It is cost efficient, provides income and helps broaden awareness to our highly valuable Benihana brand, which is already one of the most widely recognized consumer names." The new Milwaukee franchise agreement is with V&V Partners, L.L.C. Benihana operates 53 company-owned teppanyaki style restaurants, in addition to the 13 existing franchises and also owns two Haru sushi restaurants and one Sushi Doraku restaurant. Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, together with other statements that are not historical facts, are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined under Federal Securities Laws. "Forward-looking statements" are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, changes in customers' tastes and preferences, acceptance of the Company's concepts in new locations, obtaining qualified personnel, industry cyclicality, fluctuations in customer demand, the seasonal nature of the business, fluctuations of commodities costs, the ability to complete construction of new units in a timely manner, obtaining governmental permits on a reasonably timely basis, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. |
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