Mumbai, Oct. 14: Hakuhodo—Japan’s second largest advertising group and the ninth largest world-wide—plans to increase its presence in the Indian and Asian markets (outside Japan) through its 50:50 joint venture with leading Indian ad firm Percept.
The $ 5.42-billion Hakuhodo will make active use of the five brands owned by Percept to spearhead growth in India, Nepal, Sri Lanka, Bangladesh and West Asia.
Percept owns Percept Advertising Ltd, AMO Communications, Percept Gulf and Imageads and Hakuhodo Percept Pvt Ltd, that specialise in specific market segments such as Japanese brands, MNC brands, Indian brands and companies, niche clients, below the line, the financial sector, and PSUs in India and West Asia.
“In India, Hakuhodo and Percept already have a successful 50:50 joint venture advertising agency, Hakuhodo Percept Pvt Ltd, that has been working with some of Hakuhodo’s global clients like Suzuki, Sharp, Epson and Matsushita among others,” Hakuhodo Inc executive officer Tomokazu Jimbo said.
“At a time when we are looking to increase our presence in Asia, we decided to deepen the relationship with Percept through a partnership that we hope will extend the model into new markets and services.”
Among the clients in Percept’s roster are leading companies like Hero Honda, Bharti Telecom, Bajaj Tempo, Mango, Reid & Taylor, Godrej Office Furniture, Magic Prepaid Cellular Card, Jack Daniels and Philips.
“We are excited at the prospect of working alongside one of the world’s leading agencies towards our vision of developing Percept into a truly Pan-Asian agency network,” Percept Advertising managing director Harindra Singh said.