BCom3 to form JV agency in Japan

<p>BCom3 - the holding company of Leo Burnett and DMB&B - has revealed </p><p>that it intends to form a new joint venture company in Japan. </p><p><BR><BR> </p><p>The new Tokyo-based organisation, will be called Beacon and it will </p><p>formally come into existence from this October. </p><p><BR><BR> </p><p>Beacon will result from a combination of the Leo Burnett and D'Arcy </p><p>operations in Japan and be complemented by the infusion of staff and </p><p>business from Dentsu. </p><p><BR><BR> </p><p>Dentsu will take a significant equity in the venture, although exact </p><p>terms are still under negotiations. </p><p><BR><BR> </p><p>Beacon is expected to have annual billings of 45 billion yen (about </p><p>US$430 million), making it the second-largest international </p><p>agency operating in Japan. </p><p><BR><BR> </p><p>The president of the new entity will be Phil Rubel, D'Arcy Japan's </p><p>president. </p><p><BR><BR> </p><p>Phil Fiebig, president of Leo Burnett in Tokyo will assist in the </p><p>transition but he will relocate to another BCom3 operation by the end of </p><p>the year. </p><p><BR><BR> </p><p>Dentsu also plans to send one person to serve on Beacon's board. </p><p><BR><BR> </p><p>Alex Lopez and Masaki Shimasaki, the creative heads at Burnett and </p><p>D'Arcy in Japan respectively, will function as co-chief creative </p><p>officers at the new company. </p><p><BR><BR> </p><p>BCom3 chief executive officer Roger Haupt said Beacon would increase the </p><p>group's competitive position in Japan, which would be to the benefit of </p><p>clients. </p><p><BR><BR> </p><p>Dentsu president Yutaka Narita said the new enterprise would provide his </p><p>agency with an additional means through which to continue providing </p><p>total communications services in Japan. </p><p><BR><BR> </p>