HONG KONG (AdAge.com) -- Following the news that

Yesterday's Story: JAPANESE AGENCY BUYS INTO L.A.'s MENDELSOHN/ZIEN Could Signal Start of U.S. Investing Spree

it acquired a stake in Mendelsohn/Zien, Japanese advertising agency Hakuhodo today said it will now pursue more Japanese marketers active in the U.S., said a company spokesman in Tokyo.

The story was reported first yesterday on AdAge.com.

Japan's No.2

Hakuhodo, Japan's No. 2 ad agency behind Dentsu and the world's ninth-largest ad organization, took a 49.9% stake in Los Angeles shop Mendelsohn/Zien.

Agency founders Richard Zien and Jordin Mendelsohn will each retain a 25.05% share in the independent agency, which will continue to be called Mendelsohn/Zien Advertising.

Mendelsohn/Zien

"Mendelsohn/Zien's partnership philosophy and capability to outthink and not just outspend the competition fits right in with our own management style," says Tomokazu Jimbo, Hakuhodo's corporate executive officer in Tokyo. "Our aim is to expand the business while showing consideration for our new partner's corporate culture."