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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
RetailMcDonald's

McDonald’s Looking to Unload Its Japanese Branch

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Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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December 22, 2015, 5:17 PM ET
JAPAN-CHINA-US-FOOD-SAFETY-MCDONALD'S
A customer orders food at a McDonald's restaurant in Tokyo on July 30, 2014. The fast-food giant's more than 3,000 restaurants in Japan started selling new tofu nuggets modelled on a traditional side dish that meshes tofu, vegetables and fish, as the chain scrambles to minimise the damage from an embarrassing tainted meat scandal in China. AFP PHOTO / Yoshikazu TSUNO (Photo credit should read YOSHIKAZU TSUNO/AFP/Getty Images)Photograph by Yoshikazu Tsuno — AFP via Getty Images
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McDonald’s (MCD) is reportedly looking to sell a big chunk of shares of its Japanese subsidiary.

McDonald’s Holding Co. (Japan) (MDNDF) was established in 1971 as a joint venture between McDonald’s and Fujita & Co., each entity owning 50%. Fujita sold most of its stock about 10 years ago, and now Nikkei Asian Review reports that McDonald’s wants to sell 15%-to-33% of its shares, although the publication did not specify where that information came from.

The parent company currently owns about half of the Japanese branch. A sale, which is expected to bring in about $817 million, could potentially make the buyer the largest shareholder. The subsidiary’s stock fell about 8% during Tokyo’s trading day after the news was reported.

According to Bloomberg, McDonald’s Japan has predicted a loss of approximately $314 million this year, a significant jump from 2014’s $180 million loss. While the company’s sales were already unimpressive, they certainly weren’t helped by a string of food safety issues, including foreign objects found in customers’ food and the alleged use of expired meat.

 

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