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Starbucks Mulls Options for Japan Business, Including Stake Sale
Preliminary talks with investment banks could lead to a stake sale or initial public offering as Starbucks weighs how to unlock value in its second-largest market.
- On Tuesday, Bloomberg News reported that Starbucks is weighing options for its Japanese business, including a stake sale valued between 400 billion yen and 500 billion yen or an initial public offering.
- Japan is one of Starbucks' biggest markets with about 2,100 stores, most operated directly since the company established a joint venture with Sazaby League in 1995.
- Chief executive officer Brian Niccol described the Japan unit's performance as "outstanding" in April, crediting strong New Year sales, robust tourism, and new product launches.
- Following a 60 per cent stake sale in China to Boyu Capital closed in April, Starbucks is applying a similar strategy, describing the move as "marking a significant milestone in the company's long-term strategy."
- No final decisions have been made regarding the Japanese unit, though Starbucks has held preliminary talks with investment banks to determine an approach, and a representative for The Seattle-based coffee chain declined to comment.
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The shares of the Seattle-based coffee chain had risen by about 16% so far this year until Tuesday’s closing.
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Total News Sources13
Leaning Left1Leaning Right4Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
13%
C 37%
R 50%
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