McDonald’s looks to sell 33% stake in Japan

Just a few days after selling 80% of its Chinese operations, McDonald's has invited bidders to buy up to a 33% stake in its Japan unit, the Wall Street Journal reported.

The global fast-food chain owns roughly 50% of the unit, of which up to 33% will be sold. The Japanese business has a market capitalisation of about US $3.5 billion.

Bids are due next week and Morgan Stanley is running the process, the report said.

Last July, CEO Steve Easterbrook said the company wants to do a similar sale in South Korea and plans to franchise up to 95% of its stores worldwide.