Starbucks to Buy Rest of Japanese Unit for $913.5M

Starbucks plans to fully acquire its joint venture in Japan, a market where it has been operating since 1995. The acquisition involves a two-step process to buy out the remaining shares, starting with a 40% stake from its partner for $500 million, followed by purchasing shares from public shareholders. Japan is Starbucks' second-largest market, and the company aims to expand its offerings beyond coffee by introducing new concepts like Teavana. The market in Japan is highly profitable, and Starbucks intends to accelerate growth in this region.

What is the significance of Tokyo in relation to Starbucks' expansion plans?

According to the Chief Operating Officer, how does profit in Japan compare to other Starbucks markets worldwide?