Starbucks is considering selling a majority stake in its Japan business, a transaction that could value the operation at about $3 billion. Japan is Starbucks' largest company-owned international market, with 1,883 stores as of September 2025, nearly 9% of its global store count. The company has consulted financial advisers and has not determined the stake size or final valuation; a formal process could begin in the fourth quarter of 2026. The review follows Starbucks' portfolio restructuring under CEO Brian Niccol, including the completed sale of 60% of its China retail business to Boyu Capital at a $4 billion enterprise valuation while retaining 40%. Starbucks shares rose 0.95% after the report and were up 16% for the year.