Toys R Us's Japanese business plans to be merged into the Asian territory

Toys R Us Asia currently has 223 stores and 34 franchise stores, and 160 Japanese stores will be added under the new agreement.　　 Li u0026 Fung (00494)'s Fung's retail company announced that it has reached an agreement with ToysRUs to merge its Japanese operations into Toys R Us Asia, which holds Greater China and Southeast Asia operations.　　Toys R Us Asia currently has 223 stores and 34 franchise stores, and 160 Japanese stores will be added under the new agreement.　　The two parties stated in the statement that the Asian headquarters of Toys R Us, a joint venture between the two parties, is located in Hong Kong. After expansion, it can achieve greater synergies through business integration and expand the fast-growing Asian children's consumer market.　　 Fung's Retail Group stated that after joining Toys R Us Japan, the company will own approximately 15% of the shares in the Asian joint venture. According to previous reports, Fung Group reached a joint venture agreement with Toys R Us in 2011, when Fung Group held approximately 30% of its Asian business.　　 Feng Guojing, chairman of the Fung Group, stated that the management team after the merger can more effectively manage inventory, logistics and sales channels in Asia.　　 Toys R Us board chairman and chief executive officer Dave Brandon said that the two businesses are highly complementary in terms of market, products and technology. 'Hong Kong Economic Times'