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Business

Japan ad group ADK seeks to soothe WPP over Bain takeover

Investors may be betting US buyout fund will need to raise its offer

ADK President Shinichi Ueno highlighted a need to quickly adapt to the changing ad market.

TOKYO -- Asatsu-DK has no intention of turning against British media group WPP, its top shareholder, the Japanese advertising agency's chief said Tuesday after Bain Capital launched a tender offer to take it private.

"We determined that [Bain] can provide us strategic support" as a consultancy, ADK President Shinichi Ueno told The Nikkei, saying his company seeks to go private to "accelerate our growth."

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