Dentsu, posting a full year net loss of JPN80.89 billion (AUD1.9 billion), singled out Australia and China as "underperforming".
Overall organic growth for the company was a negative -1% but in Asia-Pacific it was -12.3% for the year and -17.9% for the December quarter. Japan was up just 0.4%. The Americas was the best performing region at 2.4% organic growth.
The Japanese advertising holding company in November replaced Henry Tajer as the Australia CEO with Angela Tangas, the chief commercial officer.
And the company in December announced that it would cut 11% of its staff across seven key markets, including Australia.
The latest results announcement revealed that the business in Australia continues to be impacted by client losses from 2019.
"While some of those losses will impact FY2020 results, the market is seeing some stabilisation under the new leadership of Angela Tangas," says Dentsu.
Toshihiro Yamamoto, CEO, Dentsu Group Inc, says the 2019 performance was below expectations for both Japan and the International business.
"I am confident the restructuring of the International business will deliver the necessary savings and changes to our organisational structure that we need to deliver growth and margin improvement in 2020 and beyond," he says.
The numbers for 2019
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