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Business

Recruit has plenty of cash for its overseas shopping trip

TOKYO -- Following its high-profile debut last week on the Tokyo Stock Exchange, Recruit Holdings now has a war chest for its intended global acquisition spree, one that will concentrate on the bitterly competitive human resource services market.

Recruit Holdings President Masumi Minegishi rings the TSE's opening bell to commemorate the company's listing on Oct. 16.

     In the bourse's largest initial public offering so far this year, Recruit first changed hands at 3,170 yen ($29.31), above its IPO price of 3,100 yen. It ended Thursday, its first trading day, at 3,330 yen. The gain came amid a sell-off on the Nikkei Stock Average, which tumbled more than 400 points at one point.

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