Starbucks weighs Japan stake sale at $3B valuation

Starbucks shares gained 0.30% in premarket trading on 16 September 2026 after Reuters reported that the chain is considering selling a majority stake in its Japan operations. Two people with knowledge of the matter indicated that the business could be valued at roughly $3 billion. Starbucks has requested pitches from several financial advisers, though the exact stake size and final valuation are not yet determined.

The company previously bought out its joint-venture partner Sazaby League in 2014 for about $914 million, which gave it complete ownership at a valuation close to $1.5 billion. Since then, the Japanese footprint expanded from roughly 1,050 stores to 1,883 locations as of September 2025. That network accounts for nearly 9% of the chain's global locations. Japan served as a major driver for the company's international comparable store sales, which advanced 5.7% in the third quarter.

The potential transaction follows a comparable restructuring in China. Starbucks handed control of its Chinese business to Boyu Capital at a $4 billion valuation in a deal that closed in April. Management projected that the total value of that transaction would exceed $13 billion over at least ten years when including licensing revenue and its retained equity stake.