Pan Pacific International Holdings (PPIH) announced plans to acquire the Japanese business of Toys“R”Us Japan, a major toy retailer in Japan, with the aim of continuing to operate all stores and retain employees. Toy sales after the integration are expected to reach approximately ¥150 billion.
Following the signing of a business transfer agreement, PPIH will acquire the business of Toys“R”Us Japan. PPIH will acquire its toy and children's-products retail business and plans, to the greatest extent possible, to continue operating all stores and retain employees.
On the same day, Toys“R”Us Japan filed a petition with the Tokyo District Court to commence civil rehabilitation proceedings. The transfer is expected to be completed by the end of October.
Toy sales after the integration are expected to reach approximately ¥150 billion, and the PPIH Group intends to strengthen its toy and baby-products businesses to attract more families.
Through the acquisition, PPIH, which operates Don Quijote, aims to expand its scale by combining its existing strengths with a new customer base in a mutually complementary manner.