Toys R Us Asia businesses consolidated
The Toys "R" Us Inc. logo is seen on a plastic container stacked in one of the company's stores in Sendai City, Miyagi Prefecture, Japan, on Thursday, Sept. 30, 2011. Toys "R" Us Inc. is the world's largest toy chain. Photographer: Andy Hung/Bloomberg via Getty Images

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Toys R Us is unifying its Japanese business with its ventures in Greater China and Southeast Asia.

Under a new JV agreement with Hong Kong-based Fung Retailing, Toys R Us Japan, which has 160 stores, will be consolidated into Toys R Us Asia.

The merged business will now be roughly 85 per cent owned by Toys R Us, with the balance held by Fung Retailing. The two companies have been working together since 1985. Toys R Us Asia and its subsidiaries have 223 stores in Brunei, China, Hong Kong, Malaysia, Singapore, Taiwan and Thailand. Toys R Us Asia also licenses 34 retail locations in Macau and the Philippines.

The combined company’s headquarters will be in Hong Kong, while a regional office will continue working in Kawasaki, Japan. The retailer says the consolidation will allow the company to streamline, as well as accelerate innovation.

Toys R Us Asia Pacific president Andre Javes will continue to have oversight of the combined businesses, as well as Toys R Us Australia.

International same-store sales for Toys R Us grew 1.2 per cent in the second quarter of last year, driven by strength in the Asia-Pacific market. However, international sales eased 2.5 per cent in the third quarter.


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