Microsoft South Africa Timeline
Department Store Law in Japan required that a permit be obtained for each new department store. 1957
Charles Lazarus started Children’s Supermarket in the US. It was later renamed as Toys R Us. 1966
Toys R Us was sold to Interstate Stores.
McDonald’s introduced fast-food in Japan by entering the market with a joint venture with Fujita & Company. 1973
Japan introduced the Large Scale Retail Law subjecting large retailors to a rigorous screening process-Submit detailed plans to MITI and local review board. 1974
7-Eleven was licensed in Japan.
Lazarus recued the folded Interstate company and started to focus on building a nationwide chain. 1980s
Japan’s economy and consumer spending grew.
Japan’s toy industry and wholesalers were fragmented and locally focused. Rarely employed more than 5 people
Safety net for retirement.
Large Scale Retail Law in Japan became more stringent with retailors having to explain their plans to local retailors before approaching MITI. 1984
Toys R Us opened first international store in Canada.
7-Eleven Japan used point of sales tracking to manage inventory. 1987
Toys R Us expanded to Europe, Hong Kong, and Singapore.
Toys R Us’ strategy is to build large-scale stores and leverage the economies of scale and their buying power to reduce prices. 1988
Toys R Us captured 20% of the US toy market.
Japan’s MITI’s Vision for 1990s – advocated reform of Japan’s retailing sector.
Structural Impediments Initiative – Discussion of perceived trade barriers to US imports and investment in Japan.
Toys R Us connects with Fujita for a joint venture in Japan. Early 1990s
Japan’s toy market was the second largest.
Stores began to cater specifically for children in Japan.
Toy R Us applies to municipal governments to open stores in ten locations.
7-Eleven Japan stocked 85% of its goods through its own regional...
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