Benihana, the long-running Japanese teppanyaki restaurant chain, is preparing to expand its footprint across the San Francisco Bay Area with plans to open 10 new locations over the next seven years.
The expansion was announced by The ONE Group, which acquired Benihana in May 2024 for $365 million and now owns or franchises 81 Benihana restaurants nationwide. The Bay Area growth plan includes three franchised Benihana locations, two joint-venture restaurants, and five Benihana Express licensed locations, according to a press release. A company representative tells What Now San Francisco that the two joint-venture restaurants will be developed and operated in partnership with The ONE Group. While the company has not disclosed the identities of its franchise or license partners, the joint-venture restaurants are expected to open in 2026, with the remaining franchised and Express locations rolling out over the next seven years.
Two full-service Benihana restaurants are already confirmed for 2026 openings. One location is planned for Emeryville at 1890 Powell Street, moving into the former Chevy’s waterfront space. A second restaurant is slated to open in San Jose at 5343 Almaden Expressway, replacing a former Red Lobster at Almaden Plaza. Additional Bay Area locations have not yet been announced.
The expansion follows the March 2025 opening of a Benihana at Bridgepointe Shopping Center in San Mateo. The ONE Group leadership said the restaurant delivered the strongest opening performance in the brand’s 60-year history. The location features a redesigned format with a brighter interior, improved takeout flow, a relocated sushi bar, and additional teppanyaki grills, which the company plans to replicate.
The ONE Group projects that new Benihana locations could generate about $8 million in annual sales with restaurant-level margins in the mid-20 percent range. The company is pursuing an asset-light strategy, focusing on locations that cost $1.5 million or less to open and prioritizing existing leases.
Benihana Express locations are central to that approach, offering a smaller, faster, and more casual format without teppanyaki tables or a bar. These locations operate in markets such as Miami and are being explored for sports and entertainment venues. In the Bay Area, Benihana operates restaurants in Burlingame, Concord, Cupertino, San Francisco, and San Mateo, where demand for the brand remains strong.
