Doesn't overreact when losing toys (9)

I believe the answer is:

downplays

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'doesn't overreact' is the definition.
I don't know anything about this answer so I can't judge whether it can be defined by this definition.

'losing toys' is the wordplay.
'losing' becomes 'down' (down can mean losing a sports match).
'toys' becomes 'plays' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'down'+'plays'='DOWNPLAYS'

'when' is the link.

Can you help me to learn more?

I've seen this clue in The Guardian.

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