Don Quijote operator to acquire Toys R Us Japan's business
TOKYO (Kyodo) -- Pan Pacific International Holdings Corp., the operator of the Don Quijote discount store chain, said Thursday it will acquire the bus
Japan's discount store operator, Pan Pacific International Holdings Corp., announced plans to acquire the toy retail business of major company Toys R Us Japan. The acquisition comes after Toys R Us Japan filed for rehabilitation proceedings, and Pan Pacific International was appointed as a sponsor. The Japanese discount chain did not disclose the acquisition price but pledged to take over approximately 150 toy stores in Japan, preserving as many employees and store names as possible.
President Hideki Moriya stated that the acquisition aims to broaden Pan Pacific International's retail operation and customer base, including infants, children, and families. The company intends to leverage Don Quijote's popularity among inbound tourists and expand its product range to cater to "kidults" - adults who retain a childlike spirit. Pan Pacific International also considers opening Toys R Us stores within its Uny Co. subsidiary and larger Don Quijote outlets.
The first Toys R Us store opened in Japan in 1991, but the U.S. operator filed for bankruptcy protection in 2017. Despite this, Toys R Us Japan continued operations, facing challenges due to Japan's decreasing birth rate and the rise of online shopping.
Written by urgent.news from The Mainichi's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
