TBWA’s Nippo stake gives it foothold in Japanese industry

TBWA Worldwide has gained its first presence in Japan with the acquisition of a majority stake in Nippo Corporation, Japan’s 16th-largest agency.

TBWA Worldwide has gained its first presence in Japan with the

acquisition of a majority stake in Nippo Corporation, Japan’s

16th-largest agency.



The deal adds Japan to the list of territories in which the TBWA network

handles Nissan, one of its biggest clients. Other Nippo clients in Japan

include Hewlett Packard, Hitachi and Nippon- Life Insurance.



’TBWA has now reached the size where we need our own presence in Japan

to serve the expanding needs of our clients in the Japanese market,’

Bill Tragos, chairman of TBWA, said. ’Nippo is a highly successful and

respected agency in Japan and represents an ideal partner.’



TBWA and Nippo will form a company to be headed by Takeshi Tanuma, the

president and chief executive officer of Nippo. The new company name, to

be announced shortly, will contain the names of both parties.



’Our partnership with TBWA positions Nippo to respond to the changes

occurring in the Japanese advertising market by giving us access to the

best planning and creative skills in the industry worldwide,’ Tanuma

said.



Nippo had annual billings of Y40.5 billion (pounds 173.8 million) in the

year to 31 March 1998 and last year reported gross profits of Y4.7

billion.



It employs 280 people and has offices in Osaka, Noagoya, Fukuoka,

Sapporo and Amsterdam.



Nippo was founded in 1955 and joined the Nissan group in 1983. TBWA is

acquiring its stake in the Japanese agency from Nissan and other Nippo

shareholders. Terms were not disclosed.



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