Hakuhodo, Japan's second-biggest ad agency, is planning to list its shares on the Tokyo Stock Exchange by 2003 at the earliest, according to industry sources. A Hakuhodo spokesman denied the company has decided to list its shares, but said, "We have been looking at various ways to increase our capital base." Japan's No. 1, Dentsu, is planning a listing on the Tokyo exchange in 2001 at the earliest and will use the capital to add a little muscle to its meager overseas operations and to meet the challenges of new media.
Copyright August 1999, Crain Communications Inc.