McDonald’s stalls plan to sell stake in Japanese arm

Customers are seen through the windows of a McDonald’s store (top) in Tokyo, while others stand in line in front of cash registers, July 22, 2014. REUTERS/Yuya Shino/File Photo

McDonald’s Corp has put on hold plans to sell shares in its Japan unit, which recently returned to profit for the first time in three years after a series of food scandals shook consumer confidence in the chain.

The fast food giant has “made the decision to not proceed with the transaction at this time,” Chief Finance Officer Kevin M. Ozan told investors on a conference call on Tuesday.

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