for US$1.2 billion in cash. 2020/7 - Recruit Holdings Co., Ltd. Relinquishes its stakeholding in Treatwell Overview The company based its core business around job matchmaking particularly between ready-to-graduate students and corporations in the '60s, further expanding into matchmaking of job change seekers, as well as real estate and rental information in the 1970s. By the end of the 1980s, the company was also engaged in the publication of classified ad magazines covering fields such as part-time job listings, automobile and overseas travel. In 1988, the company was reported to be engaged in the Recruit scandal, which led to the retirement of founder Hiromasa Ezoe from the company and his shares being sold to Daiei. After becoming a part of Daiei group, Daiei agreed to keep its stance as a "silent stakeholder" but didn't assume Recruit's debt, which totaled approximately 1,400.2 billion yen. In June 2012 it was announced that Recruit planned to go public within a year. A holding company was established in October 2012, and it expected to list on either the Tokyo Stock Exchange or another exchange. Following repayment of debt repayment and the purchase of some of the shares held by Daiei, Recruit listed on the First Section of the Tokyo Stock Exchange on October 16, 2014. The company is currently headquartered in Marunouchi, in Chiyoda, Tokyo. References External links Business services companies established in 1963 Japanese companies established in 1963 Book publishing companies in Tokyo Conglomerate companies established in 1963 Conglomerate companies of Japan Conglomerate companies based in Tokyo Entertainment companies established in 1963 Japanese brands Magazine publishing companies in Tokyo Mass media companies of Japan Multinational companies headquartered in Japan Multinational publishing companies Newspaper companies of Japan Service companies based in Tokyo Companies listed on the Tokyo Stock Exchange 2014 initial public offerings Internet technology companies of Japan