McDonald's shelves plans to sell stake in Japan unit after rebound

Tokyo

MCDONALD'S Corp said that it is shelving plans to sell a stake in its Japan unit that has seen a turnaround since the company announced that it was looking for a buyer more than a year ago.

After a review, the world's largest restaurant chain has "made the decision to not proceed with the transaction at this time", said chief financial officer Kevin Ozan on an earnings call with analysts on Tuesday.