Strong growth reported by Japanese agencies

<p>Japan looks to be finally showing signs of recovery, with major </p><p>advertising networks reporting strong growth in billings and profits </p><p>after two years of recession. </p><p><BR><BR> </p><p>Dentsu saw a 12.4 per cent hike in gross profit to 198.7 billion yen </p><p>(US$1.9 billion) on the back of a 4.2 per cent rise in billings </p><p>to 1,348.3 billion yen (US$12.8 billion) in the 1999 fiscal </p><p>year. </p><p><BR><BR> </p><p>In terms of media, Dentsu's non-consolidated billings increased by 5.3 </p><p>per cent for newspapers, 3.1 per cent for magazines, 4.2 per cent for </p><p>television, but decreased by 3.7 per cent for radio. </p><p><BR><BR> </p><p>Billings for the 1999 fiscal year were the second highest to date, </p><p>exceeded only by fiscal 1997, according to Dentsu's income report. </p><p><BR><BR> </p><p>Adspend in the world's second-largest market after America started to </p><p>boom early last year because of the staggering growth rates posted by </p><p>telecommunications, Internet and Internet-related business. </p><p><BR><BR> </p><p>Advertising activities were also boosted by the increase of venture </p><p>capital business in Japan after the government implemented aggressive </p><p>fiscal measures aimed at turning around the slumping economy and to open </p><p>more local market sectors to foreign investors. </p><p><BR><BR> </p><p>Flourishing venture and foreign businesses in other categories, </p><p>particularly banks, also contributed to the lift in total adspend </p><p>following the economic slump. </p><p><BR><BR> </p><p>Hakuhodo and Asatsu DK respectively experienced an 11 per cent and 9.6 </p><p>per cent jump in billings. </p><p><BR><BR> </p>