Starbucks is considering a majority stake sale in its Japan business.
Why it matters: Japan is one of Starbucks' biggest overseas markets, so a sale could change how the company allocates capital in Asia and how much earnings exposure it keeps there. The reported move also fits Starbucks' broader effort to reshape its international structure after a China joint venture reset.
- Reuters reported Sept. 16, 2026, that Starbucks is weighing a majority stake sale in its Japan business.
- Reuters said the potential deal could value the business at about $3 billion.
- Starbucks said in its fiscal 2025 annual report that it had 1,883 company-operated stores in Japan as of Sept. 28, 2025.
- Starbucks Japan said it had 2,116 stores in the country as of March 31, 2026, including 201 licensed stores.
Starbucks is considering selling a majority stake in its Japan business, according to a Reuters report. If completed, the deal would mark a significant change in how the company owns one of its most important overseas markets.
The report said the business could be valued at about $3 billion. It did not identify a bidder, banker or timetable for any transaction.
Japan is a major part of Starbucks' international footprint. In its fiscal 2025 annual report, Starbucks said Japan sits inside its International segment and said the company operated more than 41,000 company-operated and licensed stores worldwide. Annual report
Starbucks Japan said it had 2,116 stores in the country as of March 31, 2026, including 201 licensed stores, according to its company overview. Starbucks Japan overview
The reported Japan move follows Starbucks' separate China joint venture with Boyu Capital, in which the company said it would retain a stake and ongoing licensing economics. Company release SEC filing
By the numbers
- $3 billion - Reuters' reported valuation for a potential majority sale of Starbucks' Japan business
- 1,883 - Starbucks' company-operated stores in Japan as of Sept. 28, 2025, per its fiscal 2025 annual report
- 2,116 - Starbucks Japan stores as of March 31, 2026, including 201 licensed stores