Deals
McDonald's Cancels Plans to Sell Stake in Japan After Rebound
- Japan market is poised to maintain strong moment, chain says
- Company said it was studying stake sale of unit last year
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McDonald’s Corp. said it’s shelving plans to sell a stake in its Japan unit that’s seen a turnaround since the company announced it was looking for a buyer more than a year ago.
After a review, the world’s largest restaurant chain has “made the decision to not proceed with the transaction at this time,” said Chief Financial Officer Kevin Ozan on an earnings call with analysts Tuesday. The decision to keep McDonald’s Holdings Co. Japan won’t impact long-term financial targets or its intention to reach its goal of having 95 percent of restaurants franchised over the long term, he said.