SET-listed advertising agency Chuo Senko (Thailand) has undergone a major restructuring to become a holding company and increase its revenue by 10% this year.
Shuji Okawa (left), group president of Chuo Senko (Thailand), and Ratchasub Nishida, chief executive of Chuo Senko Advertising (Thailand).
Newly established Chuo Senko Advertising (Thailand) will be the main company overseeing major clients, while Wonder Asia will cover other accounts to cash in on increased demand from Japanese companies based in Thailand.
Ratchasub Nishida is chief executive of Chuo Senko Advertising.
International subsidiaries in Cambodia, Myanmar, Vietnam, India and the Philippines will come under this holding group as well.
"The move is aimed at growing amid the economic slowdown and intense competition in the Thai ad industry," said Shuji Okawa, group president of the Thai unit.
The 50-year-old advertising agency has successfully increased its registered capital to 225 million baht from 112 million to fund business expansion into customer relations management, content management and branding.
Chuo has partnered with Tokyo-based printing firm Dai Nippon Printing Co (DNP) to offer new solutions in branding and consumer experience jointly.
DNP expects its partner's regional network to cover client needs when investing in Asian countries, while Chuo will also develop prospective clients by providing communications tools and technologies developed in Japan.
Chuo is a Thai unit of Japanese ad agency Chuo Senko.
With the alliance, the firms will pool their strengths to offer new services such as digital solutions, corporate social responsibility, showroom design and factory tours.
DNP president Yoshitoshi Kitajima said the partnership would allow his company to market services for the first time in high-growth Asean members.
Mr Okawa said Chuo's international operations grew to a 35% share of total revenue last year.
"Thailand remains our key market even though we have faced slow growth due to the impact of political instability and the economic slowdown since last year," he said.
Company revenue is forecast to grow by 10% this year to 1.7 billion baht.
CHUO shares closed yesterday on the SET at 10.50 baht, up 20 satang, in light trade worth 887,000 baht.
