Investing.com — Persol Holdings () shares fell 6.5% in Tokyo trading on Monday following a report that Japanese authorities are investigating the company for potential antitrust violations.
The Nikkei reported at 12:00 JST that the Japan Fair Trade Commission conducted on-site inspections on June 2 as part of a probe into possible Antimonopoly Act violations. The investigation centers on concerns that five major staffing firms formed a price cartel to raise staffing fees, according to the report.
The five firms under investigation are Persol Tempstaff, StaffService, , , and , the Nikkei said. The investigation is examining potential unreasonable restraint of trade among the staffing companies.
According to the report, the firms under investigation stated they were cooperating fully with the inspection. Persol Holdings’ share price decline appears to be a response to the news of the regulatory probe.
The Japan Fair Trade Commission’s investigation focuses on whether the staffing firms coordinated to increase fees charged to clients for temporary staffing services, which would constitute a violation of Japanese competition law.
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