Media buying specialist Aegis Group, parent of the Carat network, has made its second Japanese purchase in two months with the acquisition of a 49% holding in Chusen Media.
Keen to establish Carat in Japan, Aegis spent £3.5 million on the stake in media buying shop Chusen, having paid out £1m for market research agency Research Fact (subsequently renamed Carat SPI) in late November.
"This is a significant trend for Carat as it opens further the door on the world's second-largest advertising market," enthused Aegis ceo Doug Flynn. "Japan is a major area of opportunity for our clients, consequently it's a major area of opportunity for our business too."
The London-headquartered group will be hoping the move proves more successful than its investment in Argentina, where it is set to lose around £10m amid the country’s economic chaos [WAMN: 08-Jan-01].
News source: BrandRepublic (UK)