TOKYO: Dentsu, the world's largest advertising agency (outside the global holding companies) revealed Thursday that it will post a securities valuation loss of ¥10.12 billion ($108.5m; €79.80m; £72.17m) for the April-December period. It attributes the loss to a plunge in the value of its marketable securities holdings.

The charge will adversely affect profitability for the nine-month period unless it is offset by gains – for example special profits from asset sales.

For the full fiscal year ending March, the true impact of the devaluation will be determined by the current quarter's rise or fall in the security holdings' values.

Japan, the second largest advertising market in the world after the USA, is dominated by Dentsu. Based on revenue, in calendar year 2007 the Group ranked fifth in the world's Top 50 agency companies. It is also a 15% shareholder in Publicis Groupe.

Its diversified client portfolio of more than 6,000 clients includes leading domestic and international corporations.

Data sourced from NikkeiNet Interactive (Japan); additional content by WARC staff