Hakuhodo Buys Piece of Mustoe Merriman Levy

NEW YORK — Hakuhodo has taken a stake in Mustoe Merriman Levy in London, the Tokyo-based ad agency said on Tuesday.

Hakuhodo will have a 49 percent stake in the agency, while MML management will retain 51 percent ownership and continue to oversee the agency, along with Ryoichi Katsui, managing director of Hakuhodo in London, who will become director of MML.

MML will merge with Hakuhodo’s office in London and take all existing accounts. MML clients include Slendertone and Central Office Communications. In Japan, Hakuhodo clients include Sony, Canon and Disney.