Key facts
- Starbucks is reportedly considering selling a stake in its Japanese business.
- The potential valuation for the stake sale is estimated between $2.5 billion and $3.1 billion.
- Other industry players and private equity firms are potential interested parties.
- Starbucks previously acquired full ownership of its Japan operations in 2014.
- The company recently sold a controlling stake in its China business for $4 billion.
Starbucks is reportedly exploring strategic options for its Japanese business, including a potential stake sale that could be valued between 400 billion and 500 billion yen ($2.5 billion to $3.1 billion), according to Bloomberg News, citing sources familiar with the matter. The coffee chain has not commented on the report.
Such a sale could attract interest from industry players and private equity firms. Starbucks previously took full control of its Japan operations in 2014, buying out its partner Sazaby League after nearly two decades of joint operations. Japan accounts for approximately 9% of Starbucks' global store base, with 1,883 locations as of September 2025.
This potential move follows Starbucks' recent sale of control in its China business to Boyu Capital for $4 billion in April. The company, under CEO Brian Niccol, has been focused on improving customer experience and reducing wait times in the U.S. Starbucks posted its strongest quarterly sales growth in two and a half years in April, though profit margins are lagging due to increased in-store investments.
Analyst Edward Lewis of Rothschild & Co Redburn suggested that any move by Starbucks to monetize its Japanese business would likely be viewed positively, as it is not currently considered an integral part of the company's equity story.