Mitsubishi Shokuhin’s Strategic Leap into the U.S. Market
As Japan’s foremost food wholesaler and a subsidiary of the formidable Mitsubishi Corporation, Mitsubishi Shokuhin is on a transformative quest to penetrate the lucrative U.S. market.
The rising admiration among American tourists for Japanese products was palpable; however, these potential consumers faced significant barriers in acquiring such goods upon returning home.
Traditional market access methods—establishing ties with individual retailers and securing engagement with procurement managers—proved to be a lengthy endeavor for the wholesaler.
A serendipitous turn arose from an unexpected source. An MBA candidate, sponsored by Mitsubishi, embarked on an internship at Yami, a nascent e-commerce platform that caters to Asian Americans and the broader Asian diaspora by offering Chinese, Japanese, Korean, and other Asian products.
This initial engagement paved the way for a strategic alliance between Mitsubishi Shokuhin and Yami, creating a direct conduit to millions of U.S. consumers.
Mitsubishi Shokuhin, which reported approximately 2.1 trillion yen ($14 billion) in revenue during its previous fiscal year, is poised to enhance its presence through this collaboration, significantly increasing the availability of its Japanese food and beverage brands on the Yami platform.
“It was somewhat fortuitous,” reminisces Alex Zhou, the founder of Yami. “We weren’t in the market for capital. We had attained breakeven and were functioning with positive cash flow.”
Yet, over a series of discussions, it became evident that Mitsubishi could contribute more than mere financial backing. Japanese products and brands constitute over 30% of our inventory. The Mitsubishi name can significantly bolster our Japanese supply chains,” Zhou asserts.
“Yami provides brand owners with immediate access to consumers, which highlights the platform’s allure,” states Kazu Ito, a senior vice president at Mitsubishi Corporation, who is set to assume the presidency and CEO role at Mitsubishi Shokuhin in April.
This partnership facilitates Japanese manufacturers in circumventing the tedious process of acquiring shelf space with U.S. retailers, allowing direct engagement with millions of online shoppers.
Mitsubishi Shokuhin was established in 2011, resulting from the amalgamation of four venerable food wholesalers, some with legacies spanning over a century.
The entity now supplies a diverse array of processed, frozen, and chilled foods, beverages, and confections to nearly 3,000 retailers in Japan, including noted brands such as Lawson and Muji.
Last year, Mitsubishi Corporation—Japan’s largest trading enterprise, boasting annual revenues of approximately $122 billion—fully privatized Mitsubishi Shokuhin through a tender offer valued at 137.6 billion yen (around $950 million).
Ito articulates that a component of this decision was to hasten overseas growth by more seamlessly integrating Shokuhin into the broader Mitsubishi ecosystem, encompassing shared logistics and talent.
What compels a traditionally domestic wholesaler to seek international opportunities? A key catalyst is Japan’s tourism surge. The nation welcomed a record 42.7 million international visitors in 2025, who collectively spent 9.5 trillion yen (approximately $60 billion), as reported by government sources.
“Tourists flock to Japan, revel in their experience, and procure souvenirs or consumables,” notes Ito. “Upon returning home, they often ponder, ‘I savored that experience, but how do I acquire the products again? Must I venture back to Japan?”
Japan’s export of agricultural, forestry, fishery products, and foodstuffs reached an unprecedented high of 1.7 trillion yen in 2025, boosted by record exports of beef, rice, and a doubling of green tea shipments.
According to Ito, platforms like Yami can facilitate the transition from a one-time souvenir purchase to sustained consumer demand. “Entities such as Yami can recreate the ‘re-experience’ of visiting Japan by providing access to products enjoyed during that stay,” he adds.
From Kansas to Servicing 4 Million Customers
Zhou’s personal journey illuminates the market gap Yami intends to address. Arriving in the U.S. from mainland China in 2007 as an international student, he found himself in Kansas, where the closest Asian grocery store was situated two hours away.
After completing his education and relocating to the Los Angeles area, he founded Yami in 2013. Within a mere three years, the enterprise generated nearly $100 million in revenue without external financing, Zhou recounts.
Yami has since secured institutional funding, including a $50 million Series B round co-led by Altos Ventures and Balsam Bay Partners.
Positioned as a comprehensive online marketplace for Asian products across North America, Yami offers a diverse inventory including snacks, beauty and health items, household goods, and beyond. Zhou reveals that the platform boasts close to four million registered customers.
Other e-commerce platforms aiming to deliver Asian goods are emerging, notably Weee, founded in 2015 by Larry Lu. Additionally, Asian supermarkets such as H Mart, part of the Hanahreum Group, are flourishing across the United States.
Yami’s path hasn’t been devoid of obstacles. Around 2018, the company underwent a rigorous period of cost-cutting.
“I recognized the necessity to detach from the business,” Zhou states. “Decisions must be made with the company’s welfare in mind. It’s immensely challenging to make staffing reductions.”
Recent increases in U.S. tariffs on Asian imports, at times reaching triple-digit percentages on products from China, have tested Yami’s supply chain and pricing strategies.
Nevertheless, Zhou perceives this disruption as a potential avenue for growth: “We possessed a deeper understanding of Asian supply chains than our competitors. This knowledge facilitated our ability to navigate this crisis profitably.”
Initially, Yami was crafted to cater to Asian Americans and the wider Asian diaspora. “As a member of the Asian and Chinese communities, I felt a responsibility to enhance the overseas experience for immigrants like myself,” Zhou reflects.
However, an intriguing trend has emerged: non-Asian consumers are increasingly purchasing not solely Japanese and Korean snacks, but also Asian beauty items, health supplements, household goods, and apparel.
This demographic is simultaneously engaging with Asian cultural products, such as K-pop and Japanese manga.
“The most rapidly expanding segment of Yami’s customer base is composed not of Asian individuals, but non-Asian consumers,” notes Ito of Mitsubishi Shokuhin. “This trend is appealing for brand owners like us who aspire to penetrate the U.S. market.”
Source link: Fortune.com.
