US coffee chain Starbucks is buying out its Japanese partner in a deal worth $914m. Starbucks Japan has been a joint venture between Starbucks and Sazaby League since 1995. Under the deal, Starbucks will buy the 60.5% stake of the Japanese unit that it does not own. It hopes to complete the deal by the end of the year. Japan is Starbucks’ second biggest market in terms of sales and has some of its most profitable cafes. Taking full ownership will give Starbucks the opportunity to expand its product sales through grocery stores and other outlets.
