Toys “R” Us Inc. will unify its Toys “R” Us Japan business with its Toys “R” Us business in Greater China and Southeast Asia, a joint venture with Fung Retailing Limited.
Under this agreement, Toys “R” Us Japan and its 160 stores will become part of Toys “R” Us Asia Ltd. Toys “R” Us Inc. will own approximately 85 percent of the combined business, while Fung Retailing will own the remaining 15 percent. Toys “R” Us Asia Ltd and its subsidiaries operate 223 stores throughout Greater China and the Southeast Asia markets with an additional 34 stores in the Philippines and Macau. Andres Javes, president of Toys “R” Us Asia Pacific, will continue to oversee all operations of the combined businesses as well as Toys “R” Us Australia.
The combined company’s headquarters will be in Hong Kong. A regional office in Kawasaki, Japan—where Toys “R” Us Japan is located—will continue its operations.