Starbucks Corp. SBUX, -0.86% unveiled plans to take full ownership of its Japanese operations for more than $900 million, part of a two-step effort that would strengthen the coffee chain’s control of its second-largest market. The company plans to acquire the remaining 60.5% stake in Starbucks Coffee Japan Ltd. that it doesn’t already own, first buying out partner Sazaby League for about $505 million and then public shareholders for an estimated $408.5 million. Starbucks said the acquisition would position the company to introduce new concepts in Japan, such as Teavana, its chain of tea locations. Starbucks Japan was formed as a joint venture partnership in 1995. The venture has more than 1,000 stores and about 25,000 employees. Starbucks said Sazaby approached the company about selling its stake over the summer, in advance of the expiration of Starbucks Japan’s retail franchise rights. The existing license agreements are set to expire in March 2021 and contain no provision for auto-renewal. Starbucks, which opened its first store outside of North America in Tokyo’s Ginza district nearly 20 years ago, said it expects the deal to immediately add to its results, excluding certain items. The transactions are expected to be fully completed in the first half of calendar 2015. As of June 30, Starbucks had 20,863 world-wide locations. Starbucks said the payment to public shareholders represents a 4.7% premium to Monday’s closing stock price, and a 51.8% premium to the price Starbucks is paying for Sazaby’s shares. In July, Starbucks reported its 18th consecutive quarter of same-store sales gains of 5% or more, on top of a 23% increase in earnings. Earlier this month, the company outlined plans to expand with new formats including the Starbucks Reserve Roastery and Tasting Room, and an “express” format targeting fast service in urban areas. The company also introduced a new line of single-origin coffees sold at supermarkets. Sazaby has a variety of operations including restaurants, apparel and household products. http://www.marketwatch.com/story/starbucks-to-buy-...