Net loss widens for TOYS ‘R’ US Japan

Toys ‘R’ Us Japan has announced its financial results for fiscal year 2006. Net sales for the year increased by 7.9% to JPY194.36 billion (USD1,671 million) compared with JPY180.18 billion (USD1,636 million). Operating profit for 2006 dropped by 597% to JPY1.56 billion (USD13.4 million), while the company recorded a net loss of JPY1.21 billion (USD10.4 million) in 2006 compared with a net loss of JPY465 million (USD4 million) in 2005. During the year the company opened five new Toys ‘R’ Us stores and closed three existing locations, it also opened three new Babies ‘R’ Us locations ending the year with a total store network of 167 stores.