Pan Pacific International Holdings, the company that operates the discount chain Don Quijote, announced on the first of the month that it has signed a business transfer agreement with major toy retailer Toys R Us Japan. Toys R Us Japan filed for application of the Civil Rehabilitation Act with the Tokyo District Court on the same date, and according to Teikoku Databank, its total liabilities are approximately 13.2 billion yen. PPIH plans to take over all stores by the end of this month after obtaining court approval, inheriting the brand and major debts to continue operations, and aims to return to profitability quickly through strengthened sales efforts. Toys R Us Japan has operated more than 150 toy stores nationwide under the Toys R Us name and others, but in recent years it had continued to post losses against the backdrop of a declining birthrate. PPIH President Hideki Mori emphasized at a press conference on the first, saying, "The addition of Toys R Us Japan's broad customer touchpoints will contribute to the group's sustainable growth."
Pan Pacific International Holdings CorporationPPIH signed a business transfer agreement to acquire Toys R Us Japan's stores and brand, expanding its group through M&A.
