Tomy Explains U.S. Closures

Tomy has finally began to talk about the sudden and unannounced closing of their U.S. based facilities.

SANTA ANA, Calif.—Tomy Corp. today publicly addressed the mid-December closing of its U.S. toy business and the potential that it would resume toy marketing here in the future.

In a statement released Jan. 7, 2009, Tomy said:

“In 2008, Tomy Corporation expanded its consumer software business to a vertical publishing model, whereby Tomy would have control over all areas of product development including research and development, manufacturing, marketing, sales, and distribution of its products. In order to accelerate this expansion, the company has temporarily withdrawn from direct sales activities in the toy mass market in North America. The consumer software division will be leveraging Tomy’s global toy brands and extending the [intellectual property] onto new interactive entertainment platforms.”