Doughnut maker Krispy Kreme Doughnuts Inc. said Wednesday it has awarded development rights for the greater Tokyo area to Krispy Kreme Doughnut Japan Co. a joint-venture between Revamp Corp., Lotte Co. and Takeo Shigemitsu, who is president of Lotte Co. Under the agreement, Krispy Kreme Doughnut Japan Co. will open about 40 stores over the next five years in the Greater Tokyo area. The first is scheduled to open in Tokyo in the fall. Krispy Kreme does not have an ownership position in Krispy Kreme Doughnut Japan Co. An affiliate of Lotte Co. is Krispy Kreme's franchisee for South Korea and operates nine stores there.