Analysis

How the Domino’s Japanese dream died

The pizza business failed to recognise that Japan’s explosive growth in lockdown was due to its convenient delivery service rather than a shift in consumer taste.

Jessica SierNorth Asia correspondent

Jul 29, 2024 – 3.19pm

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Tokyo | When Domino’s Pizza chief executive Don Meij told investors in 2022 that the pizza chain had cracked Japan, there was a long, drawn-out silence.

Domino’s Japan business had enjoyed explosive growth during the COVID-19 lockdown period, but some wary investors weren’t convinced the Japanese consumer had changed their behaviour.

Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics.