Starbucks is weighing the sale of a majority stake in its Japan business at a valuation of about $3 billion, according to Reuters, which cited two people with knowledge of the matter. The company has asked several financial advisers for pitches and is open to selling a majority stake, though the stake size and final valuation remain undetermined. Starbucks bought out its long-time partner Sazaby League in 2014 for roughly $914 million, taking full control at a valuation near $1.5 billion. The Japan store count has grown from around 1,050 then to 1,883 as of September 2025, nearly 9% of the global footprint, and international comparable sales rose 5.7% in the third quarter with Japan credited as a key driver. The move follows a similar deal in China last year, when Starbucks ceded control of that business to Boyu Capital at a $4 billion valuation, closing in April, and said the total value including its retained stake and licensing income over at least ten years would exceed $13 billion.
Starbucks CorporationStarbucks is weighing a sale of a majority stake in its Japan business at a ~$3B valuation, a portfolio/M&A move with unclear net effect.
