DeNA Shares Set to Fall in Tokyo After Fair Trade Investigation Confirmed
DeNA Co. shares were set to pare gains in Tokyo after the social network website operator confirmed the company is under investigation by the nation’s Fair Trade Commission.
The shares were untraded with sell offers outnumbering bids by about 6 to 1 on the Tokyo Stock Exchange as of 12:32 p.m. local time. They had gained 1.2 percent to 2,732 yen before a Nikkei newspaper report of the investigation.
The Japanese operator of the Mobage-town gaming website may have tried to bar game developers from providing content to competitor Gree Inc., the Nikkei said.
A DeNA spokesman, Tetsuhiro Kaneko, confirmed the commission is investigating the company.
To contact the reporter on this story: Yoshinori Eki in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Steven McPherson at email@example.com