How a bankrupt retail giant transformed into a thriving American Japanese supermarket chain

Countries & Cities · Published 15 October 2026 Swipe more like this →

In short: Mitsuwa Marketplace began as the American subsidiary of a struggling Japanese retail empire. Following a major bankruptcy in the late 1990s, the company rebranded and evolved into a unique mini-mall concept. Today, it serves as a cultural hub, blending imported grocery staples with specialized food courts and community festivals.

The origins of Mitsuwa trace back to Yaohan, a Japanese retail company that expanded into the United States in 1979 under the leadership of President Kazuo Wada. By the early 1990s, Yaohan had established a presence in California, New Jersey, and Illinois. These early locations were ambitious, with plans for rooftop Japanese communal tubs intended to draw in local residents, though these specific features never materialized. The company's trajectory shifted dramatically in 1997 when Yaohan declared bankruptcy, burdened by ¥171 billion—approximately $1.42 billion—in debt, exacerbated by the Asian financial crisis and a stagnant Japanese retail market.

In March 1998, executives from Yaohan USA formed the Wanoba Group, Inc. to acquire the remaining American assets, rebranding them as Mitsuwa Marketplace. This new entity focused on a mini-mall model, integrating supermarkets with food courts and specialty retailers like Books Kinokuniya and Daiso. The business model proved resilient, leading to further expansion. In 2012, the Japanese trading firm Kamei Corporation acquired Wanoba Group for $27.8 million, committing to retain the existing management team and maintain the established operational structure.

Mitsuwa has since evolved into a cultural destination rather than just a grocery store. Locations now host regular festivals, such as the annual natsu matsuri in New Jersey, which features traditional taiko drumming, bon odori dancing, and cosplay contests. The product selection remains a core draw, offering imported goods like miso, rice, and specialized kitchenware alongside daily-prepared bento and sushi. Recent years have seen a focus on modernization, including the 2019 infrastructure renovation of the Chicago store and the 2020 relocation of the Torrance flagship to the Del Amo Fashion Center, reflecting a sleek, updated aesthetic for the brand's ongoing U.S. presence.

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