Benihana Inc. to Open New Teppanyaki Restaurant in Carlsbad, California; Three New Franchised Benihana Restaurants Also to be Built.Business Editors MIAMI--(BUSINESS WIRE)--Aug. 16, 2002 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. : BNHNA and BNHN), operator of one of the nation's largest chains of Asian restaurants, announced today plans to open a new company-owned Benihana teppanyaki restaurant in Carlsbad, in southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , plus three new franchised restaurants. The new company-owned Carlsbad restaurant will bring to 64 the number of restaurants the Company currently operates or has under development, including 57 teppanyaki restaurants. New company-owned Benihana teppanyaki restaurants are now in development in Westbury, Long Island, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and Scottsdale, Arizona Scottsdale (O'odham Vaṣai S-vaṣonĭ) is a city in Maricopa County, Arizona, United States, adjacent to Phoenix. Scottsdale has become internationally recognized as a premier and posh tourist destination, while maintaining its own identity and culture as " . "With the addition of the new Carlsbad restaurant, slated for completion in fiscal 2004, Benihana will have a total of 16 teppanyaki restaurants in the state of California, a market that has been very good for our Company," said Joel Schwartz, President of Benihana. "It also underscores the steady, disciplined expansion in which Benihana is engaged, and the fact that there remains substantial opportunity for us to continue to grow." The franchised Benihana restaurants will be located in Broomfield, Colorado The City and County of Broomfield lies in the northwestern tier of the Denver metropolitan area in the State of Colorado of the United States. Broomfield has a consolidated city and county government. , a suburb of Boulder, as well as one in the island of Trinidad, in the West Indies West Indies, archipelago, between North and South America, curving c.2,500 mi (4,020 km) from Florida to the coast of Venezuela and separating the Caribbean Sea and the Gulf of Mexico from the Atlantic Ocean. , and one in Santiago, Chile Santiago, officially Santiago de Chile (Spanish: (helpinfo)), is the capital of Chile, and the center of its largest conurbation (Greater Santiago). . The last is being built by the group that owns the franchise in Peru, where they currently operate two Benihana restaurants. Currently, there are 18 franchised Benihana teppanyaki restaurants, with one, in Edison, N.J., under construction. A total of 22 franchised Benihana teppanyaki restaurants will now be open or under development. "Franchised restaurants, which must 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. the same high standards as our company-owned units, have proven highly cost-effective in enabling Benihana to extend its brand franchise," said Mr. Schwartz. "A number of our franchisees own and operate multiple Benihana teppanyaki restaurants, and the relationships have been rewarding to everyone involved." About Benihana Benihana, now in its 38th year since its founding, and one of the nation's largest chains of Asian restaurants, currently operates 61 restaurants nationwide, including 54 Benihana teppanyaki restaurants, five Haru sushi restaurants and two Doraku restaurants. Three Benihana teppanyaki restaurants are currently under construction. In addition, Benihana has 18 franchised teppanyaki restaurants in the U.S. and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . 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" 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. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this press release. |
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