Japan ad firm Hakuhodo sets up venture with TBWA

Newswire

LONDON, Feb 22 (Reuters) - Hakuhodo DY Holdings Inc. , Japan's second-largest advertising agency, and TBWA Worldwide are setting up a joint venture to help Japanese companies develop brands abroad and foreign companies gain local expertise. TBWA\Hakuhodo, which will have about 300 employees, will be 60 percent owned by Hakuhodo\G1, the Hakuhodo subsidiary that handles the account for Japanese auto maker Nissan Motor Co. , and 40 percent by TBWA\Tokyo, the agencies said on Wednesday. The ...

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