电通集团要退守日本？全球化的路终于还是走不通了

Core Viewpoint - Dentsu is evaluating the potential divestiture of its international operations, possibly retaining only its domestic Japanese business, amid ongoing struggles in its global expansion efforts [1][4]. Group 1: Company Developments - Dentsu has hired Morgan Stanley and Nomura Securities as financial advisors to assess the overall divestiture of its overseas business [1]. - CEO Hiroshi Igarashi stated that while the goal is to rebuild international operations, the company is exploring all options, including partnerships with third parties [1]. - Dentsu's international business has faced continuous profit pressure, leading to a downward revision of its annual profit forecast from 66 billion yen to an expected loss of 3.5 billion yen (approximately 24 million USD) [4]. Group 2: Financial Performance - In the second quarter, Dentsu's overall revenue declined by 0.2% year-on-year, with domestic operations growing by 5.3%, while international revenue fell for the fourth consecutive quarter [4]. - The profit margin for overseas operations is significantly lower than that of domestic operations, maintaining around 10%, contributing to overall performance pressure [4]. - The company announced a global workforce reduction of approximately 3,400 positions, accounting for about 8% of its international staff [4]. Group 3: Industry Context - The advertising industry is experiencing significant turmoil, with various groups seeking to sell or merge to adapt to changing market conditions [3][4]. - Dentsu's challenges reflect broader issues within Japanese companies regarding globalization, often characterized by a "Japan-centric" approach that limits effective integration and collaboration in international markets [34].