Toys "R" Us to Quit Store Operation in Japan

Tokyo, Sept. 30 (Jiji Press)--Toys "R" Us plans to stop operating stores in Japan, people familiar with the matter said Wednesday.

Toys "R" Us-Japan Ltd., based in Kawasaki, Kanagawa Prefecture, near Tokyo, currently runs a total of some 150 Toys "R" Us toy stores and Babies "R" Us baby goods stores in the country.

The Japanese operations, including the stores, are expected to be acquired by Pan Pacific International Holdings Corp., the parent of discount store chain Don Quijote Co. Pan Pacific declined to comment.

The first Toys "R" Us store in Japan opened in 1991. Toys "R" Us-Japan continued operating in the country even after its former U.S. parent, Toys "R" Us Inc., filed for Chapter 11 bankruptcy protection in 2017.

The Japanese company has been mired in years of losses because of the country's declining birthrate and the rise of online shopping.

[Copyright The Jiji Press, Ltd.]