Toys R Us, a major toy retailer, has finalized plans to withdraw from operating stores in Japan, and arrangements are progressing for Pan Pacific International Holdings, which operates Don Quijote, to acquire the business.
Toys R Us Japan's plans to withdraw from the Japanese market have emerged and are moving toward a final decision. There are currently approximately 150 stores in Japan. Pan Pacific International Holdings, the operator of discount retailer Don Quijote, has reportedly informed relevant parties that it is moving toward acquiring the business. In recent years, the declining birthrate and the expansion of online shopping have affected the company, which had posted losses for an extended period.
The first Toys R Us store in Japan opened in 1991. The US Toys R Us headquarters went bankrupt in 2017, while Toys R Us Japan continued operating the business in Japan. According to the article, the number of employees in Japan is approximately 6,000, including part-time workers.
According to people familiar with the matter, the operator of Don Quijote is Pan Pacific International Holdings. Through the acquisition of the Japan business, continuity of the Toys R Us business and the transition of store operations are expected to move forward.