Domino’s Pizza Enterprises—controlled by fast food billionaire Jack Cowin—will shut 205 money-losing stores to cut costs and boost earnings.

Pizza maker Domino ’s will close more than 200 loss-making stores globally in a move it says will position the business for sustainable growth. Asia will be the region heaviest hit by the 205 closures, with 172 eateries to be shut in Japan alone.

Domino’s Pizza has slammed the brake on its historic ambitious and aggressive store roll out strategy, announcing it would close 205 loss-making stores, 172 in its struggling Japan market, as it also looks to slice its interim dividend more than expected to preserve its balance sheet amid a challenging fast-food market.

Domino’s Pizza Enterprises said it will provide an update on its Japan strategy at an investor day during the June half.

Domino's CEO Mark van Dyck said the closures are part of a strategy review. 'When I started in this role three months ago I said we would move decisively to reshape our business f