Ad giant Dentsu sees record net loss as revenue falls amid pandemic

Economy Society

Japan's advertising giant Dentsu Group Inc. on Monday reported a record net loss of 159.60 billion yen ($1.5 billion) in fiscal 2020, as its mainstay advertising business slumped amid the coronavirus pandemic. The annual loss almost doubled from 80.89 billion yen in fiscal 2019 after Dentsu had to record an impairment loss related to its overseas business. Sales fell 10.4 percent to 939.24 billion yen and an operating loss of 140.63 billion yen was reported in the 12 months through Dec. 31, Dentsu said. It did not give an earnings outlook for fiscal 2021, citing uncertainty over the pandemic. ...

Kyodo News

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