McDonald's to Close Hundreds of Outlets in Japan

McDonald's
McDonald's

McDonald's Corp. (MCD) is closing 430 restaurants in Japan, the latest sign of the faltering economy in the Asian country.

A 50% owned affiliate will shutter the locations over the next 12 to 18 months in conjunction with the strategic review of the company's real estate portfolio. The world's largest restaurant chain plans to take charges of $40 million to $50 million in the first half of the year. McDonald's Holdings Co. (Japan) has 3,700 stores.