Benihana: Difference between revisions
→History: ce |
Rescuing 3 sources and tagging 1 as dead. #IABot (v1.4.2) |
||
| Line 33: | Line 33: | ||
}} |
}} |
||
[[File:Benihana restaurant (Manhattan, New York).jpg|thumb|right|255 px|Benihana on West 56th Street in New York City]] |
[[File:Benihana restaurant (Manhattan, New York).jpg|thumb|right|255 px|Benihana on West 56th Street in New York City]] |
||
{{nihongo|'''Benihana Inc.'''|{{linktext|紅|花}}||"[[Safflower]]"|lead=yes}} is an [[United States|American]] restaurant company based in [[Aventura, Florida|Aventura]], [[Florida]].<ref>"[http://www.benihana.com/about/corporate-information/ Corporate Information]." Benihana. Retrieved on 13 November 2016. "Benihana Inc.[...]21500 Biscayne Blvd., Suite 900, Aventura, FL 33180"</ref> It owns or [[Franchising|franchises]] 116 [[Japanese cuisine]] restaurants around the world, including its flagship Benihana Teppanyaki brand, as well as the Haru ([[fusion cuisine]]) and [[RA Sushi]] restaurants.<ref>Walker, Elaine. Benihana has a location on Commercial Blvd in Fort Lauderdale, which is said to have been frequented by the local Weiss and Nakdimon."[http://www.accessmylibrary.com/article-1G1-54734853/doral-fla-based-benihana.html Doral, Fla.-Based Benihana Discloses Secret of Its Success]." ''[[Knight Ridder/Tribune Business News]]''. May 26, 1999. Retrieved on January 9, 2010.</ref><ref>"[http://www.benihana.com/about/franchise/contact Franchising Contacts]." Benihana. Retrieved on January 9, 2010.</ref> It was founded by [[Hiroaki Aoki]] in [[New York City]]. |
{{nihongo|'''Benihana Inc.'''|{{linktext|紅|花}}||"[[Safflower]]"|lead=yes}} is an [[United States|American]] restaurant company based in [[Aventura, Florida|Aventura]], [[Florida]].<ref>"[http://www.benihana.com/about/corporate-information/ Corporate Information]." Benihana. Retrieved on 13 November 2016. "Benihana Inc.[...]21500 Biscayne Blvd., Suite 900, Aventura, FL 33180"</ref> It owns or [[Franchising|franchises]] 116 [[Japanese cuisine]] restaurants around the world, including its flagship Benihana Teppanyaki brand, as well as the Haru ([[fusion cuisine]]) and [[RA Sushi]] restaurants.<ref>Walker, Elaine. Benihana has a location on Commercial Blvd in Fort Lauderdale, which is said to have been frequented by the local Weiss and Nakdimon."[http://www.accessmylibrary.com/article-1G1-54734853/doral-fla-based-benihana.html Doral, Fla.-Based Benihana Discloses Secret of Its Success]." ''[[Knight Ridder/Tribune Business News]]''. May 26, 1999. Retrieved on January 9, 2010.</ref><ref>"[http://www.benihana.com/about/franchise/contact Franchising Contacts] {{webarchive|url=https://web.archive.org/web/20100430231923/http://www.benihana.com/about/franchise/contact |date=2010-04-30 }}." Benihana. Retrieved on January 9, 2010.</ref> It was founded by [[Hiroaki Aoki]] in [[New York City]]. |
||
==History== |
==History== |
||
| Line 75: | Line 75: | ||
In ''[[Benihana of Tokyo, Inc. v. Benihana, Inc.]]'',<ref>Benihana of Tokyo, Inc. v. Benihana, Inc., 906 A.2d 114 (2006)</ref> financial issues and a change of corporate control led three of the members of the Benihana, Inc.'s board of directors to consider the issuance of convertible stock and its sale to a potential buyer. Eventually, the entire board approved resolutions ratifying a stock purchase agreement with the buyer and authorizing the stock issuance. Afterwards, the company filed an action against almost all of Benihana, Inc.'s directors, alleging breaches of fiduciary duties. |
In ''[[Benihana of Tokyo, Inc. v. Benihana, Inc.]]'',<ref>Benihana of Tokyo, Inc. v. Benihana, Inc., 906 A.2d 114 (2006)</ref> financial issues and a change of corporate control led three of the members of the Benihana, Inc.'s board of directors to consider the issuance of convertible stock and its sale to a potential buyer. Eventually, the entire board approved resolutions ratifying a stock purchase agreement with the buyer and authorizing the stock issuance. Afterwards, the company filed an action against almost all of Benihana, Inc.'s directors, alleging breaches of fiduciary duties. |
||
On January 30, 2011, Benihana ([[Kuwait]]) filed a defamation lawsuit against a blogger for writing about his experience on his website.<ref>{{cite web|url=http://kuwaittimes.net/read_news.php?newsid=MzgwNDQ3NjMy |title=Kuwait Times Website |publisher=Kuwaittimes.net |accessdate=2011-11-08}}</ref><ref>{{cite web|url=http://www.arabianbusiness.com/kuwait-blogger-sued-over-bad-restaurant-review-377855.html |title=Kuwait blogger sued over bad restaurant review - Media |publisher=ArabianBusiness.com |accessdate=2011-11-08}}</ref><ref name="gulfnews">{{cite web|url=http://gulfnews.com/news/gulf/kuwait/kuwait-blogger-sued-for-posting-dinner-experience-1.755185 |title=Kuwait blogger sued for posting dinner experience |publisher=gulfnews |date=2011-02-01 |accessdate=2011-11-08}}</ref> Las Palmas, the company that owns Benihana in Kuwait, took legal action against the reviewer for his "negative" attitudes towards the restaurant and for recording the videos without permission. The company alleged that the blogger worked for an advertising company and might have personal motives that could be linked to his work to denigrate Benihana and praise its competitors located in the same area.<ref name="gulfnews"/> |
On January 30, 2011, Benihana ([[Kuwait]]) filed a defamation lawsuit against a blogger for writing about his experience on his website.<ref>{{cite web |url=http://kuwaittimes.net/read_news.php?newsid=MzgwNDQ3NjMy |title=Kuwait Times Website |publisher=Kuwaittimes.net |accessdate=2011-11-08 |deadurl=yes |archiveurl=https://web.archive.org/web/20111124233412/http://kuwaittimes.net/read_news.php?newsid=MzgwNDQ3NjMy |archivedate=2011-11-24 |df= }}</ref><ref>{{cite web|url=http://www.arabianbusiness.com/kuwait-blogger-sued-over-bad-restaurant-review-377855.html |title=Kuwait blogger sued over bad restaurant review - Media |publisher=ArabianBusiness.com |accessdate=2011-11-08}}</ref><ref name="gulfnews">{{cite web|url=http://gulfnews.com/news/gulf/kuwait/kuwait-blogger-sued-for-posting-dinner-experience-1.755185 |title=Kuwait blogger sued for posting dinner experience |publisher=gulfnews |date=2011-02-01 |accessdate=2011-11-08}}</ref> Las Palmas, the company that owns Benihana in Kuwait, took legal action against the reviewer for his "negative" attitudes towards the restaurant and for recording the videos without permission. The company alleged that the blogger worked for an advertising company and might have personal motives that could be linked to his work to denigrate Benihana and praise its competitors located in the same area.<ref name="gulfnews"/> |
||
==International locations== |
==International locations== |
||
| Line 110: | Line 110: | ||
;General |
;General |
||
*{{cite book | first=David A. | last= Collier|author2=James R. Evans| year= 2006| title= Operations Management: Goods Services and Value Chains| edition= 2nd| publisher= South-western College Pub.| isbn = 0-324-17939-1| authorlink=}} |
*{{cite book | first=David A. | last= Collier|author2=James R. Evans| year= 2006| title= Operations Management: Goods Services and Value Chains| edition= 2nd| publisher= South-western College Pub.| isbn = 0-324-17939-1| authorlink=}} |
||
*{{Cite journal| author=Sasser Jr., W. Earl and John R. Klug | title=Benihana of Tokyo | publisher=Harvard Business School Case | date=2004-07-20 | version=revision, orig. pub. 1972 | url=http://harvardbusinessonline.hbsp.harvard.edu/b02/en/common/item_detail.jhtml?id=673057 | accessdate=2006-06-13 }} |
*{{Cite journal | author=Sasser Jr., W. Earl and John R. Klug | title=Benihana of Tokyo | publisher=Harvard Business School Case | date=2004-07-20 | version=revision, orig. pub. 1972 | url=http://harvardbusinessonline.hbsp.harvard.edu/b02/en/common/item_detail.jhtml?id=673057 | accessdate=2006-06-13 }}{{dead link|date=July 2017 |bot=InternetArchiveBot |fix-attempted=yes }} |
||
*{{cite book | first=David | last= Rosengarten| year= 2003| title= It's All American Food| edition=1st| publisher= Little, Brown and Company.| isbn = 0-316-05315-5| authorlink= David Rosengarten}} |
*{{cite book | first=David | last= Rosengarten| year= 2003| title= It's All American Food| edition=1st| publisher= Little, Brown and Company.| isbn = 0-316-05315-5| authorlink= David Rosengarten}} |
||
| Line 116: | Line 116: | ||
{{Commons category|Benihana restaurant}} |
{{Commons category|Benihana restaurant}} |
||
*[http://www.benihana.com/ Benihana Restaurant homepage] |
*[http://www.benihana.com/ Benihana Restaurant homepage] |
||
*[https://web.archive.org/web/20100105135751/http://www.benihanagroup.com |
*[https://web.archive.org/web/20100105135751/http://www.benihanagroup.com/ Benihana Group homepage] |
||
*[http://www.americanfilmfoundation.com/order/japan_made_in_japan.shtml The Japan Project: Made in Japan] (American Film Foundation) |
*[http://www.americanfilmfoundation.com/order/japan_made_in_japan.shtml The Japan Project: Made in Japan] (American Film Foundation) |
||
Revision as of 02:33, 18 July 2017
 | This article needs additional citations for verification. (April 2009) |
 | |
| Company type | Private |
|---|---|
| Founded | 1964 |
| Founder | Rocky Aoki |
| Headquarters | , |
Key people | Steve Shlemon (President and CEO) |
| Products | Japanese cuisine |
| Revenue |  US$314M (FY 2010)[1] |
 US$-7.74M (FY 2010)[1] | |
| US$-10.0M (FY 2010)[1] | |
| Total assets | US$234M (FY 2010)[2] |
| Total equity | US$144M (FY 2010)[2] |
| Owner | Angelo, Gordon & Co. |
Number of employees | 5,000[3] |
| Divisions | Benihana, Samurai, Haru, RA Sushi |
| Website | www |
.jpg)
Benihana Inc. (Japanese: 紅花, "Safflower") is an American restaurant company based in Aventura, Florida.[4] It owns or franchises 116 Japanese cuisine restaurants around the world, including its flagship Benihana Teppanyaki brand, as well as the Haru (fusion cuisine) and RA Sushi restaurants.[5][6] It was founded by Hiroaki Aoki in New York City.
History
The company was founded in 1964 on West 56th Street in New York City by 25-year-old Hiroaki "Rocky" Aoki, the father of Steve Aoki and Devon Aoki.
Aoki, a wrestler who had qualified for but did not attend the 1960 Summer Olympics, started the restaurant with $10,000 earned from driving an ice cream truck in Harlem. The first restaurant, Benihana of Tokyo, was named for the red Safflower that was the name for the coffee shop owned by his parents in Tokyo.
Aoki's concept was for the meals to be theatrically prepared by a knife-wielding, joke-telling chef at a teppanyaki table surrounded by a wooden eating surface in front of the guests (Teppan meaning "steel grill" or "griddle" and yaki meaning "grilled" or "broiled"). It initially did not do well until early 1965 when Clementine Paddleford of the New York Herald Tribune gave it a rave review. The Beatles and Muhammad Ali were among the celebrities who then descended on the four-table restaurant.[7]
Within a year Aoki opened a bigger restaurant that featured Samurai armour, heavy wooden ceiling beams, and sliding Shoji screens to provide some privacy.
In 1968, it opened its first restaurant outside of New York City in Chicago.
In 1976, Aoki brought in consultant Hardwicke Companies (its founder Charles H. Stein was the original developer of Six Flags Great Adventure as well as operated various New York restaurants including Tavern on the Green) as a partner to run the company. In 1980, Aoki terminated the relationship and settled a Securities and Exchange Commission complaint of insider trading of Hardwicke stock.
In 1982, Benihana National Corporation went public with Joel Schwartz as president. Some of the restaurants continued to be privately owned by Aoki. The company had some missteps including the opening of the upscale Big Splash restaurant and a frozen foods division Benihana National Classics. Its stock dived and shareholders sued over management including the fact that Aoki still had his privately held restaurants of the same name.[7]
In 1995, the company acquired 17 restaurants from Benihana of Tokyo in 1995.[8]
The company has since expanded by purchasing the Haru and RA Sushi restaurants, which operate under those names.[9] Haru is based in New York City; RA has locations across the country, and is based in Scottsdale, Arizona, with its original four locations scattered around the greater Phoenix area. Although Benihana owns these concepts, they are independently operated and were developed autonomously. It also acquired the Samurai and Kyoto restaurants which it has incorporated into its other brands.
In 2004, the company issued a class of preferred stock to BFC Financial corporation to renovate its restaurants and expand. The stock diluted Aoki's control of the chain and the family sued, citing that Benihana had no compelling need for the cash, other forms of capital were available, and that the terms of the preferred stock issued to BFC were onerous. A member of the board of directors was also a director of BFC, a company that held controlling interests in BankAtlantic, Blue Green, and Levitt Homes. However, the Delaware Court of Chancery upheld the decision.[10]
Benihana's famous figural "tiki mugs" for exotic cocktails, the most common of which depicts "Hotei" a chubby buddha-like figure with arms raised in the air, have become collectible.
Aoki died in 2008 at the age of 69.[11]
In 2009, Richard C. Stockinger became chief executive to replace Joel A. Schwartz,[12] and in 2010 became president as Juan C. Garcia resigned.[13]
Benihana agreed in 2012 to be purchased by the private equity firm of Angelo Gordon & Company for $296 million.[9]
On February 5, 2014, the Board of Directors of Benihana Inc. named Steve Shlemon the company's new President and Chief Executive Officer.[14]
In 2016, Benihana Inc. named Thomas J. Baldwin CEO and president. Baldwin had been director of Benihana and served as an advisor to the operator’s principal investor, Angelo, Gordon & Co.[15]
Lawsuits
In Benihana of Tokyo, Inc. v. Benihana, Inc.,[16] financial issues and a change of corporate control led three of the members of the Benihana, Inc.'s board of directors to consider the issuance of convertible stock and its sale to a potential buyer. Eventually, the entire board approved resolutions ratifying a stock purchase agreement with the buyer and authorizing the stock issuance. Afterwards, the company filed an action against almost all of Benihana, Inc.'s directors, alleging breaches of fiduciary duties.
On January 30, 2011, Benihana (Kuwait) filed a defamation lawsuit against a blogger for writing about his experience on his website.[17][18][19] Las Palmas, the company that owns Benihana in Kuwait, took legal action against the reviewer for his "negative" attitudes towards the restaurant and for recording the videos without permission. The company alleged that the blogger worked for an advertising company and might have personal motives that could be linked to his work to denigrate Benihana and praise its competitors located in the same area.[19]
International locations
Benihana operates or franchises restaurants in the United States, Caribbean and Central and South America.[8][20]
| Carribrean | Central America | North America | South America |
|---|---|---|---|
Restatements
On February 16, 2005, the company restated a credit agreement dated December 3, 2002, by and among Benihana Inc., the Guarantors and Wachovia (now known as Wells Fargo) Bank, National Association, as Agent and Lender.[21]
See also
References
- Specific
- ^ a b c Benihana (BNHNA) annual SEC income statement filing via Wikinvest.
- ^ a b Benihana (BNHNA) annual SEC balance sheet filing via Wikinvest.
- ^ "Company Profile for Benihana Inc (BNHNA)". Retrieved 2008-10-21.
- ^ "Corporate Information." Benihana. Retrieved on 13 November 2016. "Benihana Inc.[...]21500 Biscayne Blvd., Suite 900, Aventura, FL 33180"
- ^ Walker, Elaine. Benihana has a location on Commercial Blvd in Fort Lauderdale, which is said to have been frequented by the local Weiss and Nakdimon."Doral, Fla.-Based Benihana Discloses Secret of Its Success." Knight Ridder/Tribune Business News. May 26, 1999. Retrieved on January 9, 2010.
- ^ "Franchising Contacts Archived 2010-04-30 at the Wayback Machine." Benihana. Retrieved on January 9, 2010.
- ^ a b "Benihana, Inc. profile - International Directory of Company Histories, Vol. 18. St. James Press, 1997 - Via fundinguniverse.com - Retrieved February 16, 2008". Fundinguniverse.com. Retrieved 2011-11-08.
- ^ a b "Corporate Information". Benihana.com. Retrieved 15 July 2017.
- ^ a b Gasparro, Annie (May 23, 2012). "Benihana to Go Private in Buyout". The Wall Street Journal. p. B6. Retrieved May 23, 2012.
- ^ "Benihana Inc · 8-K · For 12/9/05 · EX-99.1". secinfo.com. 2005-12-09. Retrieved 2011-11-08.
- ^ "Obituary". Legacy.com. Retrieved 2011-11-08.
- ^ Ruggless, Ron."Benihana names new CEO as Schwartz retires." Nations Restaurant News. February 10, 2009. Retrieved, February 19, 2010.
- ^ Ruggless, Ron."Benihana begins work with turnaround firm." Nations Restaurant News. January 14, 2009. Retrieved, February 19, 2010.
- ^ https://www.wsj.com/article/PR-CO-20140205-911662.html
- ^ http://www.fesmag.com/news/13744-benihana-names-thomas-j-baldwin-ceo-and-president
- ^ Benihana of Tokyo, Inc. v. Benihana, Inc., 906 A.2d 114 (2006)
- ^ "Kuwait Times Website". Kuwaittimes.net. Archived from the original on 2011-11-24. Retrieved 2011-11-08.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ "Kuwait blogger sued over bad restaurant review - Media". ArabianBusiness.com. Retrieved 2011-11-08.
- ^ a b "Kuwait blogger sued for posting dinner experience". gulfnews. 2011-02-01. Retrieved 2011-11-08.
- ^ "Restaurant Locations". Benihana.com. Retrieved 15 July 2017.
- ^ "BENIHANA INC".
- General
- Collier, David A.; James R. Evans (2006). Operations Management: Goods Services and Value Chains (2nd ed.). South-western College Pub. ISBN 0-324-17939-1.
- Sasser Jr., W. Earl and John R. Klug (2004-07-20). "Benihana of Tokyo". revision, orig. pub. 1972. Harvard Business School Case. Retrieved 2006-06-13.
{{cite journal}}: Cite journal requires|journal=(help)[permanent dead link] - Rosengarten, David (2003). It's All American Food (1st ed.). Little, Brown and Company. ISBN 0-316-05315-5.
External links
- Benihana Restaurant homepage
- Benihana Group homepage
- The Japan Project: Made in Japan (American Film Foundation)