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Hakuhodo sets up Russian advertising unit

Tuesday 13th May, 03:41 AM JST

TOKYO —

Advertising agency Hakuhodo DY Holdings Inc said Monday it has set up a fully owned unit, Hakuhodo Rus LLC, in Moscow, Russia. The company aims to boost its services to Japanese firms entering Russia, one of the so-called BRIC emerging economies, along with Brazil, India and China.

The new company, capitalized at 48 million rubles, or about 200 million yen, will soon start operating with a workforce of seven. The advertising market in Russia is expected to grow 20% this year to about 11.6 billion dollars, according to Hakuhodo.

JCN

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