Here's your Forbes Daily Briefing for Tuesday, September 10th.

Today on Forbes,

Meet the Japanese Noodle Billionaire,

taking on McDonald's and KFC.

When Takaya Owata used his meager savings to open a small restaurant in Kakogawa,

a coastal city off Japan's Seto Inland Sea,

the then 23-year-old named it Torridal Sanbon Khan, or Toridal Store Number 3.

It was a promise to himself that stores number 1 and 2 were only a matter of time and he would

soon achieve his modest goal of owning three restaurants. Four decades later

Awata's Tokyo listed ToriDahl Holdings has a network of nearly 2,000 quick service restaurants

across 28 countries and regions covering 21 brands.

The flagship is Marigame Seaman, Japan's largest U.S. The fast food success has made him a billionaire and honed his ambitions.

At his headquarters in Tokyo's Shibuya district, the 62 year old president and CEO

says, quote, I would like Toridaw to compete on a global scale.

He adds that he's aspiring to make it a one trillion Japanese yen, or seven billion dollar,

company by revenue in the next decade.

To achieve those lofty targets, Owada wants to reduce Tori Dahl's dependence on domestic

diners in a shrinking home market and focus on overseas expansion.

The global quick service restaurant industry grew at a compound annual growth rate of 5% between 2019 and 2023 to more than 1 trillion dollars, the fastest growing

sector among the overall food service market. This, according to an email from

Tomasso Nastasi, a Milan-based partner at consulting firm Deloitte.

But in Japan, which is facing the challenges of a graying population, fewer full-time jobs, and stagnant wages, restaurant operators

...