Ippei-an, one of Hong Kong's first ramen chains, shrank to a single store after 42 years

Ippei-an (麵屋一平安) was one of the very first Japanese ramen restaurants in Hong Kong. Its main store opened in Tsim Sha Tsui East in 1984, founded by Shimada Itsuko, and for four decades it anchored the city's ramen scene that it helped start. The chain once spread across prime locations, including a Mira Place branch that had operated for about twenty years.

On 26 January 2026 that Mira Place branch closed. The stated reasons were a long-term high rent, rising business pressure, a landlord that chose not to renew the lease, and unsatisfactory performance over the previous two years. The closure reduced the pioneer chain to a single store — its 1984 Tsim Sha Tsui East flagship.

Ippei-an's contraction mirrors a citywide pattern: iconic Hong Kong eateries concentrated in expensive malls are being squeezed out as rent stays high and cross-border consumption drains foot traffic. Restaurant revenue fell 7.2 per cent in Q1 2026 versus Q1 2018. For a first-generation brand whose branches sat in premium locations, the lease was the binding constraint — and when the landlord declined to renew, the branch had no way to survive.