Hakuhodo snaps up Sydney shop

SYDNEY: Japanese agency giant Hakuhodo may consider making Australia its Asia-Pacific regional hub following its purchase of a 60 per cent stake in independent Sydney agency Morris Johnston Walpole (MJW).

by | 02/22/2002

The move formalises a non-financial affiliation Hakuhodo has had with MJW since 1986, when the agency was appointed by Hakuhodo client All Nippon Airways to launch the airline in Australia. MJW also handles Hakuhodo client Suzuki.

MJW managing director, Paul McKay, said Hakuhodo admired the agency's Australian style and believed the Asia-Pacific region would recover faster than the US or Europe.

"We're able to access more serious Japanese business and we'll take the Aussie style of advertising up to that market, as opposed to Japanese style advertising,

he said.

Hakuhodo's managing director, Tomokazu Jimbo, said the purchase of the Sydney agency would allow it the "scope to further develop business opportunities and markets for our clients in both Australia and the Asia-Pacific region."

Under the deal, MJW partner Alan (Mo) Morris, who founded Mojo, has sold his 25 per cent shareholding in the agency and will resign as a director but remains as a creative consultant.

MJW has billings of A$58 (about US$33 million) million and income of $8.8 million. Its clients include Hungry Jack's, Carlton & United Breweries' Foster's and Cascade beers, Carter-Wallace, CGU Insurance, Electrolux and Manassen Foods.