Toys “R” Us Asia is preparing to hand off its business in Japan.
Toys “R” Us-Japan, Ltd. entered into a definitive agreement to transfer its operations to an affiliate of Pan Pacific International Holdings Corporation (PPIH). Once the deal closes, the Japan business will operate as part of the PPIH group.
For now, it’s business as usual. Toys “R” Us Asia says stores in Japan are expected to remain open, customer service will continue to operate, and product quality, value, and service standards will remain in place throughout the transition.
The transaction is being completed in connection with civil rehabilitation proceedings (similar to bankruptcy protection in the U.S.) in Japan and remains subject to customary closing conditions and approvals.
Toys “R” Us Asia says it will work with PPIH to support employees and provide updates throughout the transition.
“Japan has been an important part of the Toys “R” Us family in Asia for many years, and we are deeply grateful to our customers, business partners, and team members for their unwavering support throughout that journey,” said Adam Au and Johnny Mui, Acting Co-Chief Executive Officers of Toys “R” Us Asia. “While this transaction marks a new chapter for the business in Japan, it also enables Toys “R” Us Asia to sharpen its focus on the significant opportunities ahead across the region.”
Operations outside Japan are unaffected. Toys “R” Us Asia will continue running stores, eCommerce platforms, supply chain activities, and vendor relationships across its other markets, including Mainland China, Malaysia, Hong Kong, Singapore, Taiwan, and Thailand, with sub-licensed operations in the Philippines and Macau.
In the U.S., Toys “R” Us continues its expansion under the ownership of WHP Global and through partnerships with Go! Retail Group, Macy’s, NEXCOM, and WHSmith.
