• by Joe Mandese  @mp_joemandese, November 13, 2013

The good news is that Dentsu has emerged as a “truly global player operating in 110 countries around the world” following the completion of its acquisition of Aegis Group in March. The bad news is that the global advertising marketplace remains highly erratic, with recoveries in the U.S. and Japan being offset by “protracted” problems in Europe and a slowdown in emerging advertising economies. Those were the top-line sentiments of Tokyo-based Dentsu President-CEO: Tadashi Ishii in the agency holding company’s first fiscal half results released this morning.

While the Aegis deal marks “ a new beginning” for Dentsu, it comes at an especially volatile time, with both challenges and opportunities as Dentsu seeks to remake itself into what it describes as a “next-generation agency network” over the next few years.

Meanwhile, the acquisition of Aegis has remade its near-term volume, boosting its consolidated billings during its first fiscal half by 17.5%.