Hakuhodo Buys Stake in L.A. Shop

Two years of talks led to Hakuhodo’s purchase last week of a minority stake in $200 million Los Angeles shop Mendelsohn/Zien. Hakuhodo, a Tokyo-based private agency with 65 offices in 15 countries and estimated billings of $5.9 billion, will use M/Z for help with clients in the U.S.