The toy retailer will own approximately 85 percent of the newly combined businesses.
Under the terms of the agreement, TRU Japan, which operates 160 retail locations, will become part of TRU Asia–which operates 223 stores across China, Brunei, Hong Kong, Malaysia, Singapore, Taiwan and Thailand. The group has also licensed an additional 34 stores in the Philippines and Macau.
Furthermore, TRU will own approximately 85 percent of the combined business while Fung Retailing will own approximately 15 percent.
Andre Javes, president of TRU Asia Pacific, will also continue to oversee all operations of the combined businesses, as well as TRU Australia.
"This expansion marks another milestone for Toys "R" Us as a global company," says Dave Brandon, chairman and chief executive officer, TRU. "The businesses are highly complementary with regards to markets, products and technology, and we believe that the strategic decision to consolidate
The newly combined company will be headquartered in Hong Kong, with a regional office in Kawasaki, Japan.
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