Trump buys huge stake in popular Los Angeles – Business News
President Donald Trump has added an sudden company to his investment portfolio — an Irvine-based sushi chain recognized for serving dishes on conveyor belts, for robot servers and anime-themed prizes.
Financial disclosures launched this week show Trump bought between $1 million and $5 million value of shares in Kura Sushi USA earlier this 12 months, based on Bloomberg. The transfer rapidly drew consideration from buyers and diners alike, sending the company’s stock climbing more than 5% after the investment turned public.
Kura Sushi USA, which is managed by Japan-based guardian company Kura Sushi, operates more than a dozen areas throughout the Los Angeles area, together with eating places in Little Tokyo, Koreatown, Sawtelle, Arcadia, Glendale, Sherman Oaks and Torrance.
Some of the sushi choices at Kura Revolving Sushi Bar, the place dishes are delivered by way of a conveyor belt. Jeanne Muchnick / USA TODAY NETWORK
The restaurant model has constructed a following round its fast-paced “revolving sushi” idea, the place plates of nigiri, rolls and aspect dishes journey by way of eating rooms on conveyor belts. Customers may place customized orders utilizing touchscreen tablets, with food arriving by way of a second “express” lane usually described by the company as a “bullet train.”
Kura Sushi operates more than a dozen areas throughout the Los Angeles area. Barbara J. Perenic/Columbus Dispatch / USA TODAY NETWORK
Kura markets the expertise as “eater-tainment,” combining conventional Japanese dishes with arcade-like components.
After diners end a sure quantity of plates, they’ll win prizes tied to Japanese popular culture franchises, whereas drinks are typically delivered by robotic servers. Menu choices vary from bluefin tuna and salmon roe to more unconventional gadgets, like crispy rice scorching canines and cod fish tacos.
Financial disclosures show Donald Trump bought up to $5 million value of shares in Kura Sushi USA. AP Photo/Jessica Hill
Kura markets its eating expertise as “eater-tainment,” combining conventional Japanese dishes with arcade-like components. Anadolu Agency by way of Getty Images
The company traces its roots back to Japan in 1977 earlier than increasing aggressively in the United States. Analysts say the US arm of the business has posted sturdy latest efficiency, significantly in California markets the place demand for informal Japanese eating continues to grow.
Trump’s financial disclosure confirmed hundreds of trades made during the primary quarter involving main companies together with Nvidia, Apple and Amazon, although representatives for the Trump Organization have maintained that the president’s property are dealt with independently by way of outdoors financial establishments.
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The sushi chain is thought for serving dishes on conveyor belts, for robot servers and anime-themed prizes. Barbara J. Perenic/Columbus Dispatch / USA TODAY NETWORK
“A spokesperson for the Trump Organization has said all of the president’s assets are managed independently by third-party financial institutions responsible for all investment decisions, and that neither Trump himself, his family nor the company is involved in making trading decisions.”
News of the investment additionally sparked dialogue abroad, with some social media customers in Japan jokingly questioning whether or not Trump had ever truly eaten sushi. Meanwhile, shares related to the chain’s Japanese guardian company additionally rose in Tokyo trading following reviews of the acquisition.
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