Five Japan Home stores shutter; staff say Valu$ taking over operations
Valu$ operator has stake in both businesses; BT has sent queries on takeover extent
[SINGAPORE] Household retail chain Japan Home has shuttered some of its stores in Singapore since June – though some may reopen as stores managed jointly with Value Dollar (Valu$), sources told BT.
Its five outlets at Hougang Mall, Century Square, Northpoint City, Harbourfront Centre and Buangkok Square had closing down sales announced on Japan Home’s Facebook page from June to July. Its website is currently “under maintenance”.
BT visited nine Japan Home stores on Tuesday (Aug 18) and found three shuttered and six closed for “stocktaking”, with significant Valu$ stocks in some stores.
Valu$ takeover
Staff at Japan Home outlets told BT on Tuesday that the current situation was due to a “change of management,” — with certain workers saying they believe Japan Home had been “sold to Valu$ entirely”.
Valu$ is a chain of retail stores that operates under the dollar-store concept.
Japan Home workers said the outlets operated jointly with Valu$ include those in Bedok and Woodlands, with more stores likely to be converted towards this arrangement in the days ahead.
A Valu$ store manager told BT that Valu$ is not replacing Japan Home, however, though staff were spotted wearing Valu$ T-shirts at Japan Home’s Waterway Point store in the same mall.
According to Accounting and Corporate Regulatory Authority (Acra) records, Valu$ is operated by DD Private Ltd – which was founded by fast-moving consumer goods provider Radha Exports in 2005.
Singapore-registered Radha Japan – which also owns ACE Fresh and hardware store Mr Fix – has a shareholding of about 30 per cent in Japan Home, based on an Acra filings.
The rest is owned by Japan Home Centre (Management) Ltd, which recently rebranded its Hongkong Japan Home Centre to Best Home Centre after 35 years there, according to Lifestyle Asia.
Its co-founders Ngai Lai Ha and Peter Lau Pak Fai are listed as directors of Singapore-registered Japan Home Retail Pte Ltd.
BT has sent queries to Japan Home and Valu$ to verify the takeover.
Magnified losses in recent years
Founded in Hong Kong in 1991, Japan Home expanded into Singapore in 1999 with its first three outlets in Toa Payoh, Ang Mo Kio and Bugis Village. By June this year, it had 34 outlets.
The private company’s losses after tax from continuing operations had more than doubled to S$2.3 million for its financial year ended Apr 30, 2025 – from a S$858,596 loss a year prior, according to financial statements filed with Acra seen by BT. For the year ended Apr 30 2024, revenue dipped to S$51.7 million from S$53.7 million previously.
Prior to 2024, the company’s profits had declined for three years.
