create restaurants holdings inc. and SFP Holdings Co., Ltd. resolved at the board of directors meeting on July 14, 2021 to enter into a joint venture agreement for the establishment of the joint venture company by the two companies. CRH and SFP have established a joint venture company, CMD Inc. which is responsible for purchasing and planning functions at both parties and their respective operating subsidiaries. By unifying the purchasing decisions that have been made by each group company to the new company, it will strengthen supply chain management, reduce costs by sharing foodstuffs, reviewing logistics, and consolidating business partners.

At the same time, it will aim to maximize the value of foodstuffs provided to customers by developing the best suppliers and production areas.