WAYNE, N.J. and TOYKO, April 11, 2017 /PRNewswire/ -- Toys"R"Us, Inc. today announced that it has entered into an agreement to unify its Toys"R"Us, Japan business with its Toys"R"Us business in Greater China and Southeast Asia, a joint venture between Toys"R"Us, Inc. and Fung Retailing Limited. Under this agreement, Toys"R"Us, Japan, which operates 160 stores in the country, will become part of Toys"R"Us, Asia Ltd. The combined business will now be approximately 85 percent owned by Toys"R"Us, Inc. and approximately 15 percent owned by Fung Retailing.
Toys"R"Us Asia Ltd and its subsidiaries operate 223 stores in Greater China and in the Southeast Asia markets, which includes Toys"R"Us stores in Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand, and licenses an additional 34 stores in the Philippines and Macau. Andre Javes, President, Toys"R"Us, Asia Pacific, will continue to oversee all operations of the combined businesses, as well as Toys"R"Us, Australia.
"This expansion marks another milestone for Toys"R"Us as a global company," said Dave Brandon, Chairman and Chief Executive Officer, Toys"R"Us, Inc. "The businesses are highly complementary with regards to markets, products and technology, and we believe that the strategic decision to consolidate them will allow us to streamline operations and accelerate innovation to continue to deliver a world-class experience for our customers in Asia. We look forward to working more closely with Fung Retailing, our trusted and valued business partner, as we further our mission to be the best toy and baby products retail company for the world."
The Chairman of the Fung Group, Dr. Victor K. Fung said, "We have been involved with Toys"R"Us in Asia since 1985 and are pleased to expand our partnership to include Japan. Toys"R"Us is one of the most recognized brands in the world, and our goals for the combined business are to leverage the synergies between the businesses and delight a new generation of consumers with significant purchasing power across the region."
The combined company will be headquartered in Hong Kong, while a regional office will continue to operate in Kawasaki, Japan, where Toys"R"Us, Japan is based.
About Toys"R"Us, Japan
Toys"R"Us, Japan, a subsidiary of Toys"R"Us, Inc. employs approximately 6,600 associates in Japan. The company currently operates 160 Toys"R"Us and Babies"R"Us stores nationwide (as of April, 2017), as well as the Toys"R"Us/Babies"R"Us Online Store (www.toysrus.co.jp), carrying quality products from trusted domestic and international manufacturers.
Toys"R"Us-Japan, Ltd. www.toysrus.co.jp/corporate/CSfCompany.jsp#
Toys"R"Us/Babies"R"Us Store Locations www2.toysrus.co.jp/store
Toys"R"Us/Babies"R"Us Official Facebook facebook.com/toysrusjp/facebook.com/babiesrusjp
Toys"R"Us/Babies"R"Us Official Twitter twitter.com/toysrus_jp/twitter.com/babiesrus_jp
Toys"R"Us/Babies"R"Us Official Instagram www.instagram.com/toysrus_jp/
Toys"R"Us/Babies"R"Us Official LINE ="https://line.me/ti/p/@toysrus_jp" rel="nofollow" target="_blank">line.me/ti/p/@toysrus_jp
About Fung Retailing Limited
The retailing businesses of privately-held Fung Retailing Limited extend from Greater China to Korea, Singapore, Malaysia, Thailand and the Philippines through a combined network of over 2,700 stores. They include stores operated separately and independently by publicly-listed Convenience Retail Asia Limited (SEHK:00831) and Trinity Limited (SEHK:00891), as well as the privately-held Branded lifestyle Holding Limited, Fung Kids (Holdings) Limited, Toys"R"Us (Asia) Limited and Suhyang Networks Company Limited. Fung Retailing employs over 16,000 staff, and its turnover exceeded US$1.85 billion in 2015.
About Toys"R"Us, Inc.
Toys"R"Us, Inc. is the world's leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 883 Toys"R"Us and Babies"R"Us stores in the United States, Puerto Rico and Guam, and in 795 international stores and 254 licensed stores in 37 countries and jurisdictions. With its strong portfolio of e-commerce sites including Toysrus.com and Babiesrus.com, the company provides shoppers with a broad online selection of distinctive toy and baby products. Toys"R"Us, Inc. is headquartered in Wayne, NJ, and has an annual workforce of approximately 60,000 employees worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Since 1992, the Toys"R"Us Children's Fund, a public charity affiliated with Toys"R"Us, Inc., has donated more than $130 million in grants to children's charities. For more information, visit Toysrusinc.com or follow @ToysRUsNews on Twitter. Follow Toys"R"Us and Babies"R"Us on Facebook at Facebook.com/Toysrus and Facebook.com/Babiesrus and on Twitter at Twitter.com/Toysrus and Twitter.com/Babiesrus.
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SOURCE Toys"R"Us, Inc.