Australia's Domino's Pizza Enterprises said today that it's expanding into Asia, taking a 75-percent stake in the brand's Japanese business for 12 billion yen or U.S. $123.4 million, according to yahoo.

By partnering with current owner Bain Capital Domino Hong Kong, the Brisbane-based company will acquire the interest in Domino's Pizza Japan, which has the country's third-largest pizza delivery chain.

"Japan is a strategic location for DPE's future expansion, providing access to a large market which is well suited to significant new store rollouts and the relocation of stores to higher-traffic locations with improved image and formats," Don Meij, the Australian business' managing director and chief executive, said in the story.

The Australian business holds the master franchise rights for the Domino's brand in Australia, New Zealand, France, Belgium, Monaco and The Netherlands, and is the largest franchisee for the brand in the world.

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