Tokyo, March 6 (IANS): Japan's police have launched an investigation into a luxury watch rental operator based in Osaka, Japan, after they received more than 40 complaints about the firm, local media reported on Wednesday.

Luxury brand watch owners using Toke Match said their watches worth hundreds of thousands of US dollars have not been returned after the operator announced on its website that it was shutting down its service at the end of January, adding that unreturned items were being sold at a flea market app, the public broadcaster NHK reported.

Toke Match provided the service for people to rent Rolex and other luxury brand wristwatches from their owners who received a monthly rental fee based on the value of their watches, Xinhua news agency reported.

Police began looking into the case after receiving more than 40 complaints, NHK reported, citing police sources in 13 regions, including Tokyo and Osaka.

Police have been investigating the case for possible scams and embezzlement, but they said the whereabouts of the operator's management members were unknown.