Beleaguered retail chain Toys R Us Inc. is negotiating to sell its 85 percent stake in its Asian business, including the Japan operations.
A spokeswoman at Toys R Us Japan headquarters in Kawasaki confirmed Thursday that Toys R Us Asia Ltd., its parent, is in talks with multiple entities to sell most of its holdings in Asia.
The Hong Kong-based joint venture with Fung Retailing Ltd. includes over 400 physical stores and eight online stores across Hong Kong, Japan, China, Macau, Brunei, Malaysia, Philippines, Singapore, Taiwan and Thailand, according to its website.