Starbucks, the major U.S. coffee chain, is considering selling a majority stake in its Japan business, according to two people familiar with the matter. The Japan business could be valued at about 3 billion dollars in total, or roughly 470 billion yen. Japan is Starbucks' largest directly operated overseas market, with 1,883 stores as of September 2025, accounting for about 9 percent of the company's global store count. According to the people, the company has received proposals from financial institutions on options for the Japan business and has shown openness to a deal including the sale of a majority stake, with a formal process possibly beginning in the fourth quarter. The size of the stake to be sold has not yet been decided, and the business valuation could shift from 3 billion dollars as the process moves forward, with private equity funds in Japan and abroad expected to show interest in a sale. In 2014, Starbucks acquired the 60.5 percent stake it did not already own from Sazaby League for about 914 million dollars after roughly 20 years of joint-venture operation, making the Japan business a wholly owned subsidiary. Last year, the company decided to sell control of its China business to local investment fund Boyu Capital, valuing that business at about 4 billion dollars, with the sale completed in April of this year.
Starbucks CorporationStarbucks is weighing a sale of a majority stake in its Japan business, valued at about $3 billion, with a formal process possibly starting in Q4.
