Don Quijote Operator to Acquire Toys R Us Japan Business
Pan Pacific International Holdings (PPIH), the operator of discount retail chain Don Quijote, has announced plans to acquire the Japanese operations of Toys R Us, the American-founded toy retail giant, taking over approximately 150 stores nationwide while maintaining employment for existing workers. (News On Japan)
Pan Pacific International Holdings (PPIH), the operator of discount retail chain Don Quijote, is set to acquire the Japanese operations of Toys R Us from its American parent company. The acquisition will encompass about 150 stores across Japan, with all current employees retaining their positions. Toys R Us made its debut in the Japanese market back in 1991, growing to become a prominent toy and children's product retailer.
However, the company's American parent filed for bankruptcy protection in 2017, a significant blow to the international toy giant. PPIH's acquisition plan comes as the Japanese business has experienced financial hardship, with eight straight years of net losses due to a drop in birth rates and the rise of e-commerce, which has intensified competition.
Meanwhile, Typhoon No. 27 is expected to intensify and pose a threat to the Ogasawara Islands by October 5, while Typhoon No. 26 has transitioned into an extratropical cyclone.
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