Japanese ramen chain Kanada-Ya has closed all three outlets in Singapore, following continued financial losses, The Straits Times reported today (June 12). The announcement follows its parent company, Aspen Group, revealing plans to wind up the business in a bourse filing to the Singapore Exchange on June 11.
The document stated that the company will place Kamada-Ya SG and its wholly owned subsidiary Kanada-Ya Restaurants under creditors’ voluntary liquidation, as both entities are no longer able to meet their financial obligations.
“The challenging conditions of Singapore’s food and beverage sector, including elevated operating costs and soft consumer spending patterns, have negatively impacted the subsidiaries’ business in this segment, resulting in continued operational losses,” the report read.
The situation was further exacerbated by the death of the founder and executive director of the Kanada-Ya brand’s franchiser. Following this, Aspen noted a significant decline in marketing and operational support from the franchiser, inevitably impacting the performance of its Singapore stores.
“In light of these cumulative challenges, the subsidiaries’ operations are no longer sustainable and as of the date of this announcement, the subsidiaries have ceased operations at all their outlets,” it added.
Vulcan Post also checked Kanada-Ya Singapore’s website and Instagram page, only to discover that it has shut down.
Not the first Japanese F&B concept to close
Kanada-Ya, which originated in Yukuhashi, Fukuoka, Japan, opened its first Singapore outlet at Paya Lebar Quarter (PLQ) in 2019, and later expanded to Marina Square and Jem.
According to The Straits Times, the Kanada-Ya PLQ outlet had already been boarded up. As for its Marina Square outlet, a staff member from the neighbouring restaurant Lao Huo Tang revealed that the shop was no longer operational since June 8, 2025.
Kanada-Ya’s closure of its Singaporean restaurants follows multiple Japanese F&B operators facing headwinds in the city-state.
Japan Foods, the restaurant operator behind Yakiniku Shokudo and other Japanese brands, reported a net loss of S$6.2 million for the six months ended March 31, deepening from a S$576,000 loss a year earlier, after the company’s revenue for the half slid 7.5% year on year to S$40.2 million, from S$43.4 million.
A profit guidance advisory published on May 5 attributed this decline to “tough market conditions,” as existing brands generated lower revenue. Konjiki Hototogisu, one of Japan Food’s F&B concepts, also closed its three outlets at Chijmes, Paragon and Jewel.
Painful, but necessary
That said, Aspen has stated that the move is expected to have a positive impact on its net assets and earnings for the financial year ending June 30, 2025.
“The creditors’ voluntary liquidation will also enable Aspen to streamline its operations and focus its resources on its core business segment of property development,” it said.
With more F&B operators struggling to survive in Singapore, Aspen’s decision to close all of Kanada-Ya’s shops in the city-state might be a painful but necessary move to ensure the company’s long-term survival
A food for thought for other F&B operators to consider.
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Featured Image Credit: Kanada-Ya via Google Maps
