Pan Pacific International Holdings, the operator of Don Quijote, announced on the 1st that it will acquire major toy retailer Toys R Us Japan. The acquisition price was not disclosed, and the deal is expected to be completed within the month. According to PPIH, Toys R Us Japan filed for the start of civil rehabilitation proceedings with the Tokyo District Court on the 1st. PPIH will take over all of the roughly 150 stores in Japan, and President Hideki Moriya, speaking at a press conference in Tokyo, said, "We are considering opening stores inside large Don Quijote locations and those of our group supermarket Uny." The company said it will proceed with discussions toward continuing to use the Toys R Us name, and Senior Executive Officer Kenji Moriya said, "In addition to the existing offerings for children, there is ample room for growth by strengthening our provision of toys for adults." Toys R Us opened its first store in Japan in Ibaraki Prefecture in 1991, and while the U.S. Toys R Us went bankrupt in 2017, Toys R Us Japan continued its business, though in recent years it had continued to post losses amid factors such as the declining birthrate.
Pan Pacific International Holdings CorporationPPIH will acquire Toys R Us Japan, taking over all ~150 stores, an M&A deal expected to close within the month.
Toys R Us Japan filed for civil rehabilitation proceedings with the Tokyo District Court, with PPIH set to acquire it.
