Jollibee Foods Corp. (JFC) said its wholly owned dim sum brand Tim Ho Wan has reached definitive agreements to restructure its joint venture with Japan’s WDI across North America and Japan, giving Tim Ho Wan full control of its priority North American platform while WDI takes full charge of Japan operations. The transaction awaits regulatory and customary approvals, with completion targeted for Q3 2026.
Tim Ho Wan will buy WDI’s 30 percent stake in the North American venture for about US$5.05 million, becoming sole owner and gaining full authority to operate, develop, and franchise across the region. With five existing U.S. locations, the brand aims to quadruple its footprint to 20 stores by 2028, capitalizing on a US$29 billion U.S. Chinese restaurant market where the dim sum segment remains fragmented. The recent Irvine, California launch has established a proven operational blueprint, supporting faster nationwide expansion.
In a parallel deal, WDI will acquire Tim Ho Wan’s 30 percent stake in the Japan franchise entity for roughly JPY166.1 million (US$1.0 million), taking full ownership while continuing as Tim Ho Wan’s master franchisee in its home market. WDI currently runs four stores across Tokyo and Osaka, including the flagship Hibiya outlet.
WDI, a publicly listed restaurant firm founded in 1954, brings decades of local expertise to Japan while Tim Ho Wan focuses resources on North America, letting both partners lean into their strongest markets to drive growth. “Full ownership of our North America platform lets us move faster and invest more flexibly,” said Tim Ho Wan CEO Yeong Sheng Lee. WDI president Ken Shimizu noted the realignment lets his firm fully apply local strengths to grow the brand in Japan, with both sides continuing their partnership.
