Starbucks is considering selling a majority stake in its Japan business in a potential deal that could value the operation at about $3 billion, according to people familiar with the matter cited by Reuters on 16 September 2026. The reporting describes a review under way, not a sale announced by the company.

According to the agency, Starbucks has sought pitches from financial advisers, and a formal sale process could begin in the fourth quarter of 2026. The size of the stake and the valuation remain undecided. Until Starbucks issues a statement, there is no certainty that the process will lead to a transaction.

Japan is Starbucks’ largest company-operated market outside the United States. Reuters cites 1,883 company-operated stores in Japan, nearly 9% of its global company-operated base. Starbucks’ fiscal 2025 annual report shows the same 1,883 Japan stores at year-end.

Starbucks took full control of Starbucks Coffee Japan in 2014, buying out partner Sazaby League for about $914 million after nearly two decades of joint venture. The store network has nearly doubled since then.

Sources cited by Reuters said a majority-stake sale could attract interest from international and Japanese private-equity firms. The roughly $3 billion figure is a valuation being discussed in connection with a possible deal, not an agreed price.

The review comes as management reassesses the international portfolio. In June, Reuters reported, citing Bloomberg, that the company was weighing options for the Japan unit, including a stake sale. Neither then nor now has Starbucks announced a decision to sell.

Image: Zairon, Wikimedia Commons, CC BY-SA 4.0. Q-Front Shibuya, Tokyo, April 2018, not a Reuters photograph. Cropped to 16:9.

Source consulted: Starbucks considers selling majority stake in its Japan business, sources say (Reuters, 16 September 2026).