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TOKYO – The recession in Japan claimed 13 ad agencies here in February, which compares with five agency bankruptcies in January. In February 1992 only three shops filed for bankruptcy. In the 11 months preceding February 1993, 103 Japanese agencies went bankrupt, versus 76 between April 1, 1991 and March 31, 1992.
Copyright Adweek L.P. (1993)
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