- Lowe Lintas & Partners Worldwide is expanding its international network into Japan through an alliance with Japan's fifth largest advertising agency, Daiko.
As part of the agreement, Lowe's publicly traded parent, The Interpublic Group of Companies, will acquire a minority stake in Daiko of up to 20 percent.
Daiko has billings of 153 billion yen. It was founded in 1893 in the Osaka area, the second largest market in Japan, and now has headquarters in both Osaka and Tokyo. Daiko also has an additional 10 offices and 21 subsidiary and affiliate companies in Japan, as well as 6 offices in Asia.
Frank Lowe, chairman and chief executive officer of The Lowe Group, said: "When we launched Lowe Lintas & Partners five months ago, we said that combining the strengths of Lowe & Partners and APL would create one of the world's leading networks."
He continued: "Daiko will be an important partner to us as we continue to build the network. We look forward to working closely with them to develop a stronger presence in Japan, which we believe is critical to both our clients' business in this region and our continued growth." The two companies will establish a Review Board to monitor and advance the alliance's progress both within Japan and throughout the region."