Matthews Japan Fund Comments on Persol

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Oct 24, 2019

Staffing service company Persol (TSE:2181, Financial) was another detractor from performance. Over the long term, we see the company in a superior position to gain market share in a fragmented temporary-staffing industry in Japan, but weak first-quarter results for an overseas subsidiary caught markets by surprise and led to underperformance.

From Matthews Japan Fund (Trades, Portfolio)'s third-quarter 2019 commentary.