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Recruit Ties Chinese Company, Entering HR Market in China

4, 06. 2006

Recruit Co. Ltd. announced on Apr. 5 to form a capital and business alliance with major Chinese job information service company, 51job Inc. Known for its job information services via portal sites and magazines, Recruit will buy the Chinese firm’s 15% of issued stocks for $110 million (1.3 billion yen)
Recruit attempts a full-scale entry to the Chinese human resources information market, by increasing the shareholding ratio up to about 40% in 3 years. 51job has its operational headquarters in Shanghai and is doing its businesses in 25 Chinese cities including Hong Kong. Carrying classified ads in its media, as well as providing human resource services and training programs are the company’s main business fields.

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