PPIH, which operates Don Quijote, announced that it would acquire the Japanese business of major toy retailer Toys“R”Us, while the Japanese subsidiary began civil rehabilitation proceedings. PPIH plans to take over approximately 150 stores nationwide and is considering retaining the brand name and its store expansion strategy.
Pan Pacific International Holdings (PPIH) announced that it would acquire the Japanese business of major toy retailer Toys“R”Us. The transaction value was not disclosed and is expected to be completed within the month. Toys“R”Us Japan filed with the Tokyo District Court on 1 October for commencement of civil rehabilitation proceedings, and PPIH entered into a sponsorship agreement.
PPIH said it plans to take over approximately 150 stores in Japan and retain employees. President Moriya Hideki (森屋 秀樹) said the company was considering using Toys“R”Us' expertise in toys to open stores at Don Quijote and its group companies' stores.