Philippines-listed Jollibee Foods Corp (JFC) is scouting for additional coffee shop and Chinese restaurant targets as it now focuses on growing these two dining segments, Group chief financial officer Richard Shin said.

For the PHP 157bn (USD 2.5bn)-market cap restaurant operator, the coffee segment is “very profitable” and fast-growing, while the Chinese cuisine category remains a white space that can be expanded through JFC’s expertise and multi-pronged growth strategy, Shin said during the Philippine Stock Exchange (PSE) STAR Investor Day forum today (15 May).

While it is focused on these two segments, JFC can still explore targets with different dining themes as long as these meet the restaurant group’s criteria: targets’ bolt-on ability, strong balance sheet with no debt, reliance on franchise business model, and “much lower than average” multiples within industry or segment.

As an example, Shin cited JFC’s acquisition of South Korea-based All Day Fresh Co, which was relatively not that expensive. Moreover, there are synergies despite being outside of its focus categories since JFC already has the infrastructure in South Korea to scale this business after acquiring Compose Coffee in 2024.

JFC acquired All Day Fresh, the operator of the popular hot pot chain Shabu All Day, for about USD 87m last month.

The CFO noted that JFC has come a long way since its early days when “we only buy the types of businesses that we can afford.” Nowadays, the company is now being courted by sellers and has the luxury of being able to choose only those that pass its stringent requirements. If targets are not attractive, then JFC can just opt to grow its strong portfolio of brands organically.

Meanwhile, Shin said that the global energy crisis that quickened inflation rates has no bearing on the listing timeline of its subsidiaries. The listings of JFC’s international business in the US and Highlands Coffee in Vietnam are both slated for 2027.

The group had disclosed early this week its plan to review its 2026 forecasts, including the pace of store openings, capital expenditures, and profit expectations. In March, the company originally projected that its capital expenditures would be between PHP 13bn (USD 211m) to PHP 16bn (USD 259m) and opening 1,200 to 1,300 new stores this year. JFC plans to implement moderate price increases to cushion margin pressures to manage volatility in the near-term, as disclosed.

The higher input costs had dragged down its profit by 38.8% in 1Q26 to PHP 1.5bn in 1Q26 despite registering a 10.3% increase in systemwide sales that reached PHP 114bn. Direct costs rose 11.7% growth due to inflationary pressures that impacted raw materials, packaging materials, and logistics inflation on the back of the recent geopolitical developments, Shin said.