Starbucks Explores $3 Billion Sale of Japan Business

Starbucks is exploring the sale of a majority stake in its Japan business, a move that could value the coffee chain's largest overseas company-operated market at approximately $3 billion. The potential transaction is part of a broader strategic shift under Chief Executive Brian Niccol to refocus resources on the company's core U.S. market. The company has engaged financial advisers to evaluate options for its Japanese operations and is open to divesting a controlling interest, according to people familiar with the discussions. A formal sale process could begin in the fourth quarter of 2026. The exact size of the stake and the final valuation remain subject to negotiations. Japan is a significant market for Starbucks, with 1,883 stores representing nearly 9% of its global footprint as of September 2025. The market has been a strong performer, cited as a key driver behind the 5.7% growth in international comparable store sales during the third quarter. The potential deal mirrors Starbucks' recent approach in China. In April, the company transferred operational control of its China business to Boyu Capital in a transaction valued at $4 billion.