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the producers he says did a good job of <unk> someone who had done so much but who was also a <unk> |
dentsu inc. the world 's largest advertising agency on the strength of its dominance in the japanese market is setting its sights on overseas expansion |
last year dentsu started <unk> a joint network with u.s. ad agency young & rubicam and eurocom of france |
a few months ago dentsu acquired N N of australian agency fortune communication holdings ltd. for N million australian dollars us$ N million |
dentsu has u.s. subsidiaries but they keep low <unk> |
now the giant marketing company which holds N N of japan 's N trillion yen $ N billion advertising industry is considering the acquisition of an advertising network in the u.s. or europe |
what is driving dentsu 's international expansion largely is the need to keep up with its japanese clients as they grow in the u.s. and europe |
if we do n't do something we wo n't be able to catch up with demand says a dentsu spokesman |
our president said acquisition is an effective method |
last year dentsu 's foreign business accounted for less than N N of total billings but the company is aiming at N N in the near future |
so far it appears cautious about taking the big step |
for example the spokesman says dentsu has been approached by banks and securities companies a number of times to invest in the troubled british marketing group saatchi & saatchi plc |
but he said dentsu has n't looked seriously at saatchi |
though dentsu says it has no concrete acquisition plans or deadlines it is laying the <unk> for international growth |
it is setting up a special team in charge of international markets and training workers to do business abroad |
for the year ended march N dentsu sales rose N N to $ N billion from $ N billion and net income jumped N N to $ N million from $ N million |
dentsu 's billings last year were larger than those of young & rubicam the world 's second-largest ad agency according to a survey by the publication advertising age |
but success overseas in <unk> markets could be <unk> than for other industries such as manufacturers |
on its own dentsu 's muscle in japan may count for little in major foreign markets when seeking <unk> clients |
thus an acquisition may prove the necessary course |
but japanese agencies are cautious about expanding abroad because client relationships are different |
japanese agencies do business with rival clients in the same industry a practice that would be <unk> by traditional western conflict rules says roy <unk> the london chief executive of saatchi & saatchi 's communications division |
although acquiring a foreign company would expand japanese advertising agencies ' business to foreign clients many clients would also be japanese companies expanding overseas says the dentsu spokesman |
but the different business system would make it hard for dentsu to provide these japanese companies the same kind of services they do in japan |
ciba-geigy ag the big swiss chemicals company said that it agreed in a letter of intent with corning inc. to acquire corning 's N N share of <unk> corning <unk> corp. based in <unk> mass |
<unk> corning which had been a N venture between <unk> ciba-geigy and corning has annual sales of about $ N million the announcement said |
terms of the transaction were n't disclosed |
<unk> corning makes clinical <unk> systems and related products for the <unk> industry |
the announcement said the acquisition should be completed by december after a definitive agreement is completed and regulatory approval is received |
ciba-geigy intends to develop the <unk> corning unit into a substantial business making the unit an <unk> part of ciba-geigy 's comprehensive disease management concept |
the nbc network canceled its first new series of the fall tv season killing <unk> brooks 's <unk> hotel comedy the <unk> house |
the show one of five new nbc series is the second casualty of the three networks so far this fall |
last week cbs inc. canceled the people next door |
nbc 's comedy had aired <unk> at N p.m. and in five <unk> had drawn an average of only N N of homes lagging behind the jamie lee <unk> comedy anything but love on abc and cbs 's one-hour drama <unk> and the <unk> |
nbc a unit of general electric co. has n't decided on a permanent replacement for the canceled series |
john <unk> ltd. said it plans a private placement of N million canadian dollars us$ N million in preferred shares to be completed around nov. N |
proceeds will be used to reduce short-term debt at the beer and food concern said robert <unk> vice president finance |
the preferred shares will carry a floating annual dividend equal to N N of the 30-day bankers ' acceptance rate until dec. N N |
thereafter the rate will be <unk> |
mr. <unk> said that if no agreement is reached other buyers will be sought by bid or auction |
the shares are <unk> after the end of N |
mr. <unk> said the share issue is part of a strategy to strengthen <unk> 's balance sheet in anticipation of acquisitions to be made during the next N to N months |
<unk> 's has no takeover bids outstanding currently he said |
lead underwriter to the issue is toronto dominion securities inc |
texas instruments inc. once a pioneer in portable computer technology today will make a bid to <unk> itself in that business by <unk> three small personal computers |
the announcements are scheduled to be made in temple texas and include a so-called notebook pc that <unk> less than seven pounds has a <unk> hard disk drive and is <unk> by intel corp. 's N microprocessor |
that introduction comes only two weeks after compaq computer corp. <unk> it had a lead of three to six months on competitors introduced the first u.s. notebook computer with such features |
despite the inevitable comparison with compaq however texas instruments ' new notebook wo n't be a direct competitor |
while compaq sells its machines to businesses through computer retailers texas instruments will be selling most of its machines to the industrial market and to <unk> <unk> and <unk> manufacturers |
the <unk> also mark texas instruments ' plunge back into a technology it has all but ignored for the past several years |
although the dallas-based computer giant introduced the first portable data terminal in N a <unk> monster and the world 's first <unk> portable in N the only portable machines it has introduced since the first part of the decade have been <unk> terminals with limited <unk> processing ability |
it stopped selling a standard personal computer a while ago |
now that is about to change as texas instruments begins marketing two <unk> laptop pcs with N <unk> and N <unk> hard drives |
the <unk> are not revolutionary and indeed are <unk> in a market first opened by grid systems corp. now a unit of tandy corp. almost two years ago |
but the notebook with the more advanced microprocessor and hard disk is more innovative |
weighing N pounds with battery the notebook measures N by N inches has a <unk> hard disk drive and boasts a <unk> screen that is N N larger than compaq 's |
its <unk> according to industry consultants is better than compaq 's but its battery life of two to three hours is shorter |
it does n't have an internal <unk> disk drive although a <unk> drive can be purchased separately |
its greatest <unk> may be its <unk> <unk> big enough for one consultant to describe it as <unk> |
list prices on the heavier texas instrument <unk> will be $ N for the <unk> model N with a N <unk> disk drive and $ N for the <unk> model N |
the notebook the <unk> model N will be priced at $ N |
shearson lehman hutton inc. said it applied to taiwanese securities officials for permission to open brokerage offices in taipei |
shearson 's application is the first since the taiwan securities and exchange commission announced june N that it would allow foreign brokerage firms to do business in that country |
taiwan officials are expected to review the shearson application later this year |
under current rules investors in taiwan can buy overseas stocks only through the purchase of mutual funds issued by local and foreign investment trusts |
the new rules will allow investors to buy foreign stocks directly |
a spokesman for shearson said the brokerage service will be directed at individual investors who want to buy foreign and domestic stocks |
it 's an attractive market with good growth opportunities he added |
retailers in the west and parts of the south are entering the critical christmas shopping season with more momentum than those in other regions |
in a new report the international council of shopping centers said sales of general merchandise in the west for the first seven months of N rose N N above year-earlier levels |
sales increased a more modest N N in the south and N N in the midwest |
but sales in the <unk> state of texas surged N N and sales in south carolina jumped N N in the period the new york trade group said |
in the northeast however sales declined N N in the period with sales in new england falling N N |
the numbers show that we do n't have a <unk> economy said <unk> <unk> council research director |
there are a lot of have and <unk> markets |
sales nationally rose N N through july the latest month for which the figures are available the council said |
the northern california earthquake and hurricane hugo are likely to temporarily damp sales growth in the west and south carolina |
but mr. <unk> predicted the regional trends would continue through christmas |
the big <unk> is as much of a factor in retailing as in politics he said |
the christmas quarter is important to retailers because it represents roughly a third of their sales and nearly half of their profits |
the council 's report is based on data the trade group buys from the u.s. census bureau |
the information on N metropolitan markets is supplied by retailers such as sears roebuck & co. and k mart corp. as well as closely held concerns such as r.h. macy & co |
the council plans to release its regional reports monthly |
mr. <unk> said strength in employment appears to have the biggest impact on sales growth |
el paso austin and fort worth the three strongest retail markets in the nation are all located in texas where employment grew a relatively strong N N |
massachusetts which has lost jobs in the computer and <unk> industries was the weakest link in bleak new england |
the results reflect a reversal in the fortunes of the regions during the past two years |
in N the west had the <unk> sales growth and the south and the midwest were first and second respectively according to the council |
mr. <unk> said that although retailers probably wo n't ever recover sales lost because of the california quake and hurricane hugo they could see some benefits later on |
stores such as sears that sell <unk> durable goods might actually get a boost as consumers rush to replace items lost in the disasters he said |
<unk> corp. said it will spend $ N million to purchase land and <unk> its <unk> <unk> storage facility to clark county nev. from henderson <unk> |
the company said it will move the storage and <unk> operations to a site N miles northeast of las vegas to distance the operations from residential areas |
<unk> <unk> is an <unk> that is mixed with a <unk> to make rocket fuel used in the space shuttle and military <unk> |
in may N an <unk> <unk> plant in henderson owned by an american pacific corp. unit was <unk> by a series of explosions |
after the explosion <unk> temporarily shut down its facility just south of las vegas for a safety inspection |
american pacific and <unk> are the only two u.s. manufacturers of <unk> <unk> |
when the plant was destroyed i think everyone got concerned that the same thing would happen at our plant a <unk> spokeswoman said |
that prompted <unk> to consider moving the potentially volatile storage facilities and <unk> operations away from town |
<unk> said it has purchased N acres from the federal government in clark county and plans to begin construction early next year |
the new facility is expected to begin operations in early N |
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