Key facts
- Starbucks is weighing the sale of a majority stake in its Japan business.
- The potential deal could value Starbucks Japan at about $3 billion.
- Starbucks Japan operates 1,883 stores, accounting for nearly 9% of Starbucks' global footprint as of September 2025.
- Starbucks has solicited pitches from financial advisers for the business.
- Starbucks took full control of its Japan business in 2014 for about $914 million.
- The company ceded control of its China operations to Boyu Capital in April for $4 billion.
Starbucks Corp is exploring the sale of a majority stake in its Japan operations, a move that could value the business at approximately $3 billion, according to sources familiar with the matter. The coffee giant has begun soliciting pitches from financial advisers to explore options for the business, which operates 1,883 stores and represents nearly 9% of Starbucks' global footprint as of September 2025. The company stated that it "continually assesses the best structure to be most meaningful to customers and create value for shareholders."
Bloomberg reported in June that Starbucks was considering strategic options for its Japan business. The potential divestment aligns with CEO Brian Niccol's strategy to reshape Starbucks' global portfolio, which has included store closures and job cuts in North America to improve profitability. Analysts at TD Securities have suggested that monetizing the Japan unit would be a strategic move, as the market is not central to the brand and could allow management to focus on reviving the core U.S. business.
Starbucks gained full control of its Japan operations in 2014 by buying out its long-time partner, Sazaby League, for about $914 million. Since then, the number of stores has grown from approximately 1,050 to 1,883. Last year, Starbucks transferred control of its China business to Boyu Capital in a deal valued at $4 billion, which closed in April. The company indicated that the total value of its China business, including proceeds, retained stake, and licensing income, would exceed $13 billion over at least 10 years. It remains unclear if the Japan sale would follow a similar structure.