Starbucks considers $3 billion Japan stake sale

• Starbucks is considering selling a majority stake in its Japan business, according to sources.
• The Japan operation could be valued at about $3 billion in a potential transaction.
• The company is reviewing portfolio options as part of its broader restructuring efforts.

Starbucks (NASDAQ:SBUX) is considering selling a majority stake in its Japan business in a potential transaction that could value the operation at approximately $3 billion, according to people familiar with the matter.

The Japan business operates 1,883 stores and represented nearly 9% of Starbucks’ global company-operated store footprint as of September 2025, with the company exploring options through financial advisers.

The potential stake sale remains under discussion, with the size of any transaction and final valuation subject to negotiations, while sources said a formal process could begin in the fourth quarter.

Starbucks has been restructuring its global operations under Chief Executive Brian Niccol, including store closures and corporate job reductions in North America as the company focuses on improving profitability.

Starbucks took full control of its Japan business in 2014 after acquiring its former partner Sazaby League’s stake for about $914 million, with the business expanding from around 1,050 stores to 1,883 locations.

The possible Japan stake sale follows Starbucks’ decision to sell control of its China operations to Boyu Capital in a transaction that valued the business at $4 billion.