Dentsu takes massive hit on investment value

Be the first to comment
Dentsu...reevaluation of shares
Dentsu...reevaluation of shares

LONDON - Dentsu, Japan's biggest ad agency, has written down the value of its investments by 40.9 billion yen (£270 million) for the last quarter of the financial year ending on 31 March.

The company had previously said it was expecting a net profit of 11 billion yen for the year.

Japanese shares have been hit hard by the global financial crisis and a domestic downturn.

A statement from Dentsu said: "The booking of a revaluation loss was necessitated by the marked fall of market prices of certain securities held by Dentsu and recognition that the recovery of market prices is uncertain."

The company is due to report its annual results on May 11.

SUBSCRIBE TO CAMPAIGN

Only £57 for 3 months

Includes every print & iPad edition, plus full access to Campaign online and other Brand Republic sites.

SUBSCRIBE

Campaign Jobs

Thousands of jobs across advertising, creative, marketing and media

Happy 12th birthday, Facebook - what's next for the world's most powerful tween?
Share

1 Happy 12th birthday, Facebook - what's next for the world's most powerful tween?

The social network celebrates its latest birthday this week, and there is no sign that its dominance will dwindle any time soon, writes Daniel Price, head of social operations at Lost Boys.

Just published