Dentsu, Tokyo, suffered a 4.3% drop in billings, to $10.78 billion, for the year ended March 31. The agency giant's profit was down 6.7% but still an enormous $1.43 billion. It's the first time since 1993 that Dentsu has recorded such decreases. The declines came as ad spending in Japan dropped in 1998 for the first time in five years, as the nation suffers through its worst recession since the end of World War II.
Copyright June 1999, Crain Communications Inc.