Starbucks is reportedly considering selling a majority stake in its Japan business, in a potential deal that could value the operation at around $3 billion.
According to people familiar with the matter, the company has asked several financial advisers to review strategic options for the business. A majority stake sale is among the possibilities currently being considered.
Starbucks Japan Could Be Valued at $3 Billion
Japan is Starbucks’ largest company-operated market outside the United States.
As of September 2025, Starbucks operated 1,883 stores in Japan. That represents close to 9% of the company’s global store network.
The exact value of Starbucks Japan has not been made public. However, sources said the business could be worth approximately $3 billion.
The size of any potential stake sale has also not been finalized. Any eventual valuation would depend on negotiations with prospective buyers.
Starbucks Highlights Strength of Japan Business
Starbucks described its Japan operations as an important and well-established part of its international business.
A company spokesperson said Starbucks Japan has built strong brand loyalty and a trusted presence over three decades.
The company added that it regularly reviews how its businesses are structured in order to serve customers and create value for shareholders.
Reports that Starbucks was exploring options for its Japan operations first emerged earlier in the year.
Possible Sale Comes During Wider Restructuring
The potential Starbucks Japan transaction comes as CEO Brian Niccol continues to reshape the company’s global operations.
Starbucks has closed stores and reduced corporate jobs in North America as part of efforts to improve profitability.
The company has also increased spending on store upgrades and marketing in an attempt to attract more customers.
While those efforts have helped stabilize demand, they have also added pressure to costs and profit margins.
Buyout Firms Could Show Interest
A majority stake sale in Starbucks Japan could attract interest from both global and Japanese private equity firms.
According to people familiar with the process, a formal sale could begin as early as the fourth quarter.
Starbucks has not yet confirmed the timing or structure of any potential transaction.
Starbucks Took Full Control of Japan in 2014
Starbucks gained full ownership of its Japan business in 2014.
At the time, the company bought out its long-term partner Sazaby League for around $914 million. The deal valued the Japanese business at roughly $1.5 billion.
Since then, Starbucks Japan has expanded significantly.
The number of stores has increased from about 1,050 at the time of the acquisition to 1,883 locations as of September 2025.
Japan Remains an Important Growth Market
Starbucks Japan continues to contribute to the company’s international performance.
Comparable store sales in Starbucks’ international segment increased 5.7% in the third quarter, with Japan cited as one of the main contributors to the growth.
Some analysts believe selling part of the Japan business could allow Starbucks to unlock value while focusing more heavily on improving its US operations.
Starbucks Continues to Reshape International Portfolio
The potential Japan transaction would follow another major international restructuring by Starbucks.
Last year, the company agreed to give up control of its China operations to Boyu Capital in a deal that valued the business at around $4 billion.
That transaction closed in April.
Starbucks said the overall value of its China business, including sale proceeds, the value of its remaining stake and future licensing income, could exceed $13 billion over time.
It remains unclear whether a potential sale of Starbucks Japan would follow a similar structure.
For now, Starbucks appears to be evaluating several options as it continues to streamline its international portfolio and focus on improving profitability across its core markets.
