Dentsu revenue rises 8.1%, but net slips 10.8%

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[Tokyo] Dentsu, reporting higher revenue on lower profits, said ad spending in Japan rose 3% to $54.5 billion in calendar 2004, the first increase in four years. Ad spending rose in all major media sectors, and Internet advertising "substantially increased due to the diffusion of broadband," Dentsu said in announcing financial results for the fiscal year ended March 31.

Dentsu, Japan's top agency group and the world's No. 5 agency holding company, said its revenue (consolidated gross profit) rose 8.1% to $2.97 billion while net income fell 10.8% to $257 million, excluding currency fluctuations. Dentsu attributed the profit drop to the absence of extraordinary income (tied to retirement accounting) that boosted profits in the previous fiscal year.

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