Dentsu Expects First Loss In 30 Years

  • May 7, 2009
Dentsu, Japan's top ad agency, warned of a 20.5 billion yen ($208 million) loss for the last financial year, its first loss in at least three decades, reports Reuters. It was hit by a huge writedown on its stake in French advertising firm Publicis, in which it has a 15% stake. Dentsu said in a statement it faced a 51 billion yen loss on its share investments; 38 billion yen were due to a sharp drop in Publicis shares. At the same time, Dentsu raised its operating profit estimate 21% from its previous February forecast.

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