McDonald's is shopping 33% of its Japanese unit (MCD)

Reuters/Reuters Photographer

McDonald's Corp. is inviting bids for a significant stake in its Japan unit McDonald's Holdings Co. Japan Ltd, The Wall Street Journal reported Thursday, citing people familiar with the situation.

The fast-food company owns just under half of its Japanese unit and is looking to sell up to 33%, with bids due next week, the report said.

Numerous private-equity firms are considering bids, the report said.

Morgan Stanley is running the sale, the newspaper reported, citing one of the sources.

McDonald's — which last week agreed to sell the bulk of its China and Hong Kong business to the state-backed conglomerate Citic Ltd and Carlyle Group LP — said in January last year that it was looking to sell a portion of its stake in its Japanese business.

The company did not immediately respond to requests for comment outside regular business hours. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)

NOW WATCH: How much money you need to save each day to become a millionaire by age 65