Starbucks is exploring the sale of a majority stake in its Japanese operations. The deal could value the business at approximately $3 billion. Financial advisors are currently assisting the company, with a formal sale process potentially starting in the fourth quarter.
CEO Brian Niccol is leading the move to restructure the company's global portfolio. This follows a similar transaction where Starbucks sold a majority stake in its China business. Starbucks operated 1,883 stores in Japan as of September 2025. Japan currently represents the company's largest company-owned international market.
Starbucks took full control of the Japan business in 2014 by buying out partner Sazaby League for $914 million. A company spokesperson stated they are evaluating structures to create value for shareholders and customers. The potential sale is expected to attract interest from global and local private equity firms.