Starbucks is considering the sale of a majority stake in its Japan business in a potential deal that could value the operation at about $3B, according to Reuters, which cited two people familiar with the matter. The coffee chain has solicited pitches from several financial advisers on options for the business and is open to selling a majority stake, though the eventual stake size and valuation remain subject to negotiations, and a formal sale process could begin in Q4, one source said. Starbucks Japan spans 1,883 stores, accounting for nearly 9% of the company's global footprint as of September 2025. Starbucks took full control of the Japan operations in 2014, buying out longtime partner Sazaby League for about $914M and valuing the business at roughly $1.5B, with its store count growing from about 1,050 to 1,883 since. The review follows Starbucks' $4B sale of control of its China business to Boyu Capital, a deal whose total value including sale proceeds, the retained stake and expected licensing income the company said would exceed $13B, and it is unclear whether Japan would follow a similar structure. The potential sale comes as CEO Brian Niccol reshapes the portfolio to restore profitability, with international comparable-store sales up 5.7% in Q3 and Japan a key driver.
Starbucks CorporationStarbucks is weighing a ~$3B sale of a majority stake in its Japan business as CEO Niccol reshapes the portfolio to restore profitability.
