The World: Tokyo - Hakuhodo set to expand Chinese presence

Hakuhodo, the second-largest ad agency in Japan, is set to boost its presence in China, funded by its flotation on the Tokyo Stock Market.

Hakuhodo DY Holdings, in which Hakuhodo holds a commanding share, is expected to float 10 per cent of its stock this week.

If the deal goes ahead, it would see Hakuhodo, under its president, Toshio Miyagawa (pictured), finance an operation to challenge Dentsu's domination of the Chinese market.

A similar move was mooted back in 2003, but was put on hold while Hakuhodo launched HDY.