Announcement comes as Japanese Prime Minister Shinzo Abe met with Prime Minister Theresa May in London on Thursday.
The joint venture with software publisher Bandai Namco Amusement involves a new retail entertainment experience, supporting 1,000 jobs in the UK and creating 3,600 jobs in Japan.
The Hamleys Group CEO, Ralph Cunningham, commented: “Hamleys is the fastest growing international toy retailer, with a global presence of over 160 stores across 17 countries and we plan to open 30 stores in Japan over the next five years. We are delighted to have partnered with Japanese firm Bandai Namco Amusement for this new £300m venture, to introduce the unique Hamleys in-store experience to this fantastic market. We opened our first two stores in Tokyo and Fukuoka in December 2018, and we will shortly commence planning for a further six store openings in 2019.”