Coffee giant Starbucks is poised for continued growth and innovation in Japan through full ownership of its operations in the company’s second-largest market.

Starbucks will acquire the remaining 60.5 per cent share of Starbucks Japan at around $914 million.

The acquisition positions Starbucks to accelerate growth across multiple channels in Japan, including the potential introduction of new concepts, such as Teavana.

Starbucks Japan is a joint venture between Starbucks and Sazaby League that operates Starbucks branded retail stores in Japan. Since the inception of their JV agreement in 1995, Starbucks and Sazaby together introduced the coffeehouse experience to Japanese customers and built one of Starbucks top-performing markets globally.

Starbucks currently has around 1050 outlets across Japan.

“Full ownership of Starbucks Japan enables us to build on the amazing foundation of customer trust and loyalty our partners have achieved by continuing to take care of our people, delivering the highest quality coffee and innovating in product, store design and the digital experience,” said Howard Schultz, chairman, president and CEO, Starbucks.