Starbucks is exploring options for its Japanese business, including a potential stake sale or initial public offering, according to Bloomberg.
Early-stage conversations with investment banks have taken place as the company seeks to map out a direction for its Japan operations, people familiar with the matter told Bloomberg, who asked not to be named given the private nature of the discussions
Potential buyers, including private equity firms and strategic industry players, could be drawn to a transaction that people familiar put at somewhere between 400 billion yen and 500 billion yen in value, or roughly $2.5 billion to $3.1 billion. No final decisions have been made, the people said. Starbucks declined to comment.
With a footprint of roughly 2,100 stores, Japan ranks among the company’s most significant international markets. Starbucks’ most recent annual report counted 1,883 locations in the country as of September 2025, representing close to 9% of its worldwide store network. The Japan unit was fully absorbed into Starbucks’ corporate structure after Sazaby League sold its stake back to the chain in 2014; Starbucks subsequently removed the subsidiary from Japanese stock exchange listings the following year.