McDonald's Corporation (NYSE:MCD) said on July 28, 2020 that it will sell some of its holdings of shares in McDonald's Holdings Company (Japan), Ltd. (JASDAQ:2702). McDonald's will lower its stake from some 50% to around 35%, McDonald's Chief Financial Officer Kevin Ozan said during a telephone briefing on the company's April-June earnings results. The decision comes "as a result of the strong performance of the McDonald's Japan business over the past few years" and the U.S. firm's "confidence in the local management team," Ozan said, adding, "We believe it's the right time to gradually reduce our ownership stake." The CFO said that the plan to maintain a 35% stake demonstrates the company's commitment to its Japanese business, while noting that the sale "will take some time because of the low trading volume of McDonald's Japan shares".