After IPO, burger chain Shake Shack announces that it also plans to add restaurants in Japan

MarketsAssociated Press

The Shake Shack burger chain, fresh off its IPO, said Tuesday that it plans to open restaurants in Japan as it expands overseas.

New York-based Shake Shack raised $105 million in an initial public offering last month to help fund its growth. It then had 63 locations.

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Known for its burgers, milk shakes and crinkle-cut fries, the chain's biggest presence is in New York, with 15 shops.

But it has locations in other U.S. cities — its first Baltimore restaurant opened Monday — and overseas, including in London, Istanbul and Moscow.

It plans to open 10 restaurants this year and eventually grow to about 450.

Shake Shack said it signed a licensing agreement with Japanese company Sazaby League Ltd., which has opened Starbucks coffee shops in Japan. The plan is to open 10 Shake Shacks in Japan by 2020. A Tokyo restaurant is expected in 2016.

The Japanese restaurants will have typical Shake Shack menus, with items such as the ShackBurger, a cheeseburger topped with ShackSauce.

Shares of Shake Shack Inc. fell $1.24, or 3.1 percent, to $39.45 in midday trading Tuesday. Its shares are up 87 percent from their IPO price of $21.