TOYS "R" Us Inc, the world's largest toy chain, has bought a 70 percent stake in its licensed operations in China and southeast Asia as it looks to expand in the region.

Toys "R" Us acquired the stake from Li & Fung Group, the parent of the world's biggest supplier of toys and clothes to retailers, as part of a joint venture it agreed with Li & Fung Retailing, the chain said in a statement yesterday. Toys "R" Us may buy the remaining 30 percent of the venture in the future, according to the statement, which didn't disclose financial details.

Source:shanghaidaily