TBWA, Hakuhodo form H&T venture for Nissan

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H&T Worldwide is the name of the joint venture being set up by Hakuhodo, Tokyo, and Omnicom Group's TBWA Worldwide, New York, to manage the nearly $1.1 billion account of troubled Nissan Motor Co. The venture will set up three global branches--in Japan, the U.S. and Europe--with H&T Japan handling Nissan ads in the automaker's home market. The Japanese venture will be 80% owned by Hakuhodo. H&T USA will be 80% owned by TBWA. Renault, after acquiring Nissan, put Carlos Ghosn in place as Nissan's chief operating officer. Last fall, Mr. Ghosn directed the two agencies to work more closely together to build a consistent global brand image for Nissan. In Europe, TBWA and Hakuhodo have a decade-old joint venture headquartered in Amsterdam. In December, Hakuhodo and TBWA agreed to set in motion plans to form a joint venture to cooperate with Nissan on a global basis.

Copyright February 2000, Crain Communications Inc.

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