Hakuhodo buys minority stake in Philippine ad agency

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TOKYO--Japan's second-biggest advertising agency, Hakuhodo, haspurchased a 20% stake in Philippine advertising agency Adformatix.

The Philippines' 12th-biggest agency, with annual billings of $8 million, will now be called Adformatix/Hakuhodo. The agency marks the Japanese company's entry into its ninth Asian market.

Hakuhodo says the equity stake purchase will help it bolster its service structure for clients across the Asian region.

Copyright January 2000, Crain Communications Inc.

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