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Overview

Services

DENTSU GROUP INC.

Dentsu Group is a global advertising and marketing communications conglomerate headquartered in Japan, providing integrated services spanning advertising, media buying, digital marketing, data analytics, customer experience management, and consulting. The company serves clients across approximately 120 countries through its Japan segment (led by Dentsu Inc.) and international operations under the dentsu brand, covering the Americas, EMEA, and APAC regions. Its competitive strategy, branded 'Integrated Growth Solutions,' combines marketing, technology, and consulting capabilities to deliver end-to-end solutions for global brands.

Activists: Silchester International Investors LLP 9.49%

Market Cap

¥984B

US$6.28B

¥1,269B

US$8.09B

Stock¥3,792▼-0.11%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

LTM EV/EBIT

LTM PER

LTM PBR

2.3

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-1.8%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Aug 17, 26Q2 FY2026/12 earnings announced

MC → EV Bridge

AI Briefing

Global ad/marketing conglomerate (7th by revenue, ~68K staff, ~120 countries), running 'Integrated Growth Solutions' across creative, media, data and consulting. FY25/12 revenue ¥1,435B but swung to operating loss ¥-289B (-20.2%), deepening from FY24/12's ¥-125B loss despite revenue growth — margin deterioration is the core narrative. Market cap ¥992B vs EV ¥1,277B with ¥641B debt against ¥366B cash; forward EBITDA ¥226B implies a turnaround bet after negative LTM EBITDA.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

40%

60%

EquityD/E 1.51xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 43.7%

as of 2026-06-30 · Source: Annual Securities Report

The Master Trust Bank of Japan, Ltd. (Trust Account)

11.57%

Kyodo News

7.29%

Jiji Press, Ltd.

6.08%

NORTHERN TRUST CO.(AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

4.18%

Custody Bank of Japan, Ltd. (Trust Account)

3.45%

STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)

2.57%

BNYMSANV AS AGENT/CLIENTS LUX UCITS NON TREATY 1 (Standing Proxy: MUFG Bank, Ltd.)

2.42%

NORTHERN TRUST CO.(AVFC) RE U.S.TAX EXEMPTED PENSION FUNDS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)

2.32%

DENTSU GROUP INC. Employee Stock Ownership Association

1.95%

Yoshida Hideo Memorial Foundation

1.91%

Management

11 officers

Suguru SANO

Director, Member of the Nominating Committee

Apr 1992: Joined Dentsu Inc. (now Dentsu Group Inc.) Jan 2017: General Manager, Sales Division, Dentsu Inc. Jan 2021: Executive Officer, Dentsu Inc. Mar 2021: Executive Officer and Managing Director, Transformation Production Division, Dentsu Inc. Jan 2022: Executive Officer, Dentsu Japan Network, Dentsu Group Inc. Mar 2022: Director, Dentsu International Information Services, Inc. (now Dentsu Soken Inc.) Jan 2023: Group Executive Management, Dentsu Group Inc.; CEO, dentsu Business Transformation; Senior Managing Executive Officer, Dentsu Inc. Jan 2024: CEO, dentsu Japan, Dentsu Group Inc. Representative Director, President and Executive Officer, Dentsu Inc. (scheduled to retire on Mar 31, 2026 and continue as a Director) Jan 2025: CEO, dentsu Japan and Deputy Global COO, Dentsu Group Inc. Mar 2025: Executive Officer, CEO of dentsu Japan and Deputy Global COO, Dentsu Group Inc. Mar 2026: Director, Representative Executive Officer, Global CEO and CEO of dentsu Japan, Dentsu Group Inc. (current)

1970-03-03

Yoshimasa WATAHIKI

Director

Apr 1990: Joined Dentsu Inc. (now Dentsu Group Inc.) Feb 2017: General Manager, Business Planning Division, Dentsu Inc. Jan 2020: Executive Officer, Dentsu Japan Network, Dentsu Group Inc. Nov 2020: Director (non-executive), Dentsu Sports International Inc. Jan 2021: Director (non-executive), Dentsu Promotion Plus Inc. (now Dentsu Promotion Inc.); Director (non-executive), Dentsu Live Inc. Jan 2022: Director (non-executive), Dentsu Corporate One Inc. Mar 2022: Director (non-executive), Dentsu Inc. (current) Jan 2023: Director (non-executive), Dentsu Digital Inc.; COO, dentsu Japan (current) Mar 2026: Director, Representative Executive Vice President, Global CCAO, Dentsu Group Inc. (current)

1967-11-15

Shigeki ENDO

Director

Apr 1994: Joined Itochu Corporation Jan 2000: Joined General Electric Company Feb 2003: CFO, GE Specialty Materials Japan K.K. (GESMJ) Jun 2005: Finance Controller, GE Capital Asia Pacific; Audit & Supervisory Board Member, GESMJ Apr 2009: CFO, GE Capital Japan GESC MF Jun 2011: Commercial Finance Controller, BAT Japan Jun 2013: CFO, BAT Cambodia Sep 2014: CFO and Acting CEO, BAT Cambodia Aug 2015: CFO, BAT Sri Lanka Oct 2015: CFO and Acting CEO, BAT Sri Lanka Sep 2016: Global Head of Corporate Finance and CFO, NGP, British American Tobacco plc Oct 2018: Commercial Director (Managing Director), Accenture Japan Ltd. Mar 2020: Executive Officer, Head of Finance and CFO, Accenture Japan Ltd. Jul 2024: Global CFO Designate, Dentsu Group Inc. Feb 2025: Global CFO, Dentsu Group Inc. Mar 2025: Executive Officer and Global CFO, Dentsu Group Inc. Mar 2026: Director, Executive Officer and Global CFO, Dentsu Group Inc. (current)

1972-09-16

Yuka MATSUDA

Outside Director; Member of the Nominating Committee; Chair of the Audit Committee

Apr 1985: Joined Citibank, N.A., Japan Branch Oct 1991: Joined Chuo Shinko Audit Corporation Oct 1992: Joined Central Coopers & Lybrand International Tax Office Apr 1995: Registered as Certified Public Accountant Apr 1999: Registered as Certified Tax Accountant Jul 2014: Partner, PwC Tax Advisors LLC Jun 2021: Representative, Yuka Matsuda CPA and Tax Accountant Office (current) Jul 2021: Outside Audit & Supervisory Board Member, Denki Kogyo Co., Ltd. Jun 2022: Outside Audit & Supervisory Board Member, Mitsubishi Steel Mfg. Co., Ltd. (current) Jul 2022: Supervisory Director, Nochu JAML REIT Investment Corporation (current) Mar 2023: Outside Director, Dentsu Group Inc. (current)

1960-09-19

Yoshihiko KAWAMURA

Outside Director; Member of the Compensation Committee; Member of the Audit Committee; Chair of the Finance Committee

Apr 1979: Joined Mitsubishi Corporation Mar 2000: Joined Mitsubishi Corporation (U.S.A.) Apr 2010: Executive Officer, Head of IT Services Division, Mitsubishi Corporation Apr 2012: Executive Officer, Business Services Division, Assistant to the CEO (Corporate Planning), Mitsubishi Corporation Apr 2015: Executive Officer, Executive Strategist, Information & Telecommunication Systems Group, Hitachi, Ltd. Apr 2016: Executive Officer, Deputy Head of IoT Promotion Headquarters and Head of Incubation Promotion, Hitachi, Ltd. Apr 2017: Executive Vice President (Executive Officer), Head of Investment and Financing Strategy and Head of Future Investment, Hitachi, Ltd. Apr 2018: Senior Executive Vice President (Executive Officer), Chief Strategy Officer, Head of Investment and Financing Strategy and Head of Future Investment, Hitachi, Ltd. Apr 2020: Representative Executive Officer, Senior Executive Vice President, Chief Financial Officer (CFO) and Head of Finance, Hitachi, Ltd. Jun 2021: Director (Audit and Supervisory Committee Member), Hitachi Astemo, Ltd. (now Astemo, Ltd.) Apr 2022: Representative Executive Officer, Executive Vice President, CFO, Chief Risk Management Officer (CRMO), Head of Finance and Head of Investment Review, Hitachi, Ltd. Apr 2024: Executive Advisor to the President, Hitachi, Ltd. Jun 2024: Outside Director, Circlace Inc. (current) Mar 2025: Outside Director, Dentsu Group Inc. (current) Jun 2025: Outside Director, Konica Minolta, Inc. (current); Executive Vice President (Executive Officer), Kioxia Holdings Corporation (current); Executive Vice President (Executive Officer), Kioxia Corporation (current)

1956-08-20

Tomomitsu TAKASHIMA

Outside Director; Chair of the Nominating Committee; Member of the Audit Committee

Apr 1989: Appointed Public Prosecutor, Tokyo District Public Prosecutors Office Jun 1998: Deputy Section Chief, Planning Division, Financial Planning Bureau, Ministry of Finance Mar 2003: Instructor, Legal Training and Research Institute, Supreme Court of Japan Jul 2009: Public Prosecutor (Deputy Chief, Trial Division), Tokyo District Public Prosecutors Office Jan 2014: Public Prosecutor (Chief, Trial Division), Tokyo District Public Prosecutors Office Apr 2015: Senior Deputy Director-General (Counselor), Minister's Secretariat, Ministry of Justice Jul 2017: Chief Public Prosecutor, Matsuyama District Public Prosecutors Office Jul 2018: Public Prosecutor, Supreme Public Prosecutors Office Sep 2018: Director-General, Civil Liberties Bureau, Ministry of Justice Apr 2019: Deputy Commissioner, Immigration Services Agency Dec 2020: Secretary General, Minister's Secretariat, Ministry of Justice Sep 2021: Vice-Minister of Justice Jan 2023: Superintending Prosecutor, Nagoya High Public Prosecutors Office Oct 2024: Registered as attorney-at-law (Dai-Ichi Tokyo Bar Association); T&K Law Office (current) Mar 2025: Outside Director, Dentsu Group Inc. (current) Jun 2025: Outside Director, Sumitomo Mitsui Financial Group, Inc. (current)

1961-10-06

Naoko ICHIKAWA

Outside Director; Member of the Nominating Committee; Member of the Finance Committee

Apr 1981: Joined Korg Inc. Sep 1989: Joined Booz Allen Hamilton Japan Inc. (now PwC Consulting LLC) Jan 1999: Joined GE Capital Edison Life Insurance Company (now Gibraltar Life Insurance Co., Ltd.) Dec 2004: Joined GE Capital Leasing Co., Ltd. (now GE Japan K.K.) Apr 2009: Joined Novartis Pharma K.K. Jul 2012: Managing Director, Innovation Network Corporation of Japan (INCJ, Ltd.) Jul 2017: Executive Officer and Chief Marketing Officer, Mitsubishi Chemical Holdings Corporation (now Mitsubishi Chemical Group Corporation) May 2021: Outside Director, TSI Holdings Co., Ltd. (current) Apr 2023: Outside Director, Rakuten Securities Holdings, Inc. Mar 2025: Outside Director, Dentsu Group Inc. (current)

1958-02-05

Iwao MATSUI

Outside Director; Chairman of the Board of Directors

Apr 1980: Completed the Legal Training and Research Institute, Supreme Court of Japan Oct 2007: Chief Public Prosecutor, Otsu District Public Prosecutors Office Jul 2009: Deputy Superintending Prosecutor, Nagoya High Public Prosecutors Office Oct 2010: Deputy Superintending Prosecutor, Osaka High Public Prosecutors Office Jun 2012: Director-General, Criminal Affairs Bureau, Supreme Public Prosecutors Office Jan 2014: Chief Public Prosecutor, Yokohama District Public Prosecutors Office Jan 2015: Superintending Prosecutor, Fukuoka High Public Prosecutors Office Sep 2016: Retired from public prosecutor service Nov 2016: Registered as attorney-at-law (Tokyo Bar Association); Yaesu Sogo Law Office (now Shinmarunouchi Sogo Law Office) (current) Feb 2017: Chair, Independent Supervisory Committee on Labor Environment Reform, Dentsu Inc. (now Dentsu Group Inc.) Jun 2017: Outside Audit & Supervisory Board Member, Orient Corporation Jun 2018: Outside Director (Audit and Supervisory Committee Member), Globeride, Inc. (current); Outside Audit & Supervisory Board Member, Totetsu Kogyo Co., Ltd. (current); Outside Audit & Supervisory Board Member, Nagase & Co., Ltd. (current) Mar 2020: Outside Director, Dentsu Group Inc. Mar 2022: Outside Director (Audit and Supervisory Committee Member), Dentsu Group Inc. Jun 2022: Outside Director (Audit and Supervisory Committee Member), Orient Corporation (current) Mar 2023: Outside Director, Dentsu Group Inc. (current)

1953-12-13

Paul CANDLAND

Outside Director; Chair of the Compensation Committee

Jun 1985: Joined Owens Corning Corporation Apr 1987: Joined PepsiCo, Inc. Nov 1994: President, Okinawa Pepsi-Cola Bottling Co., Ltd. Apr 1998: Representative, PepsiCo International Japan Branch Nov 1998: Representative Director and General Manager, Disney Store Japan K.K. Apr 2002: Managing Director, Walt Disney Television International Japan, Walt Disney Japan K.K. Jun 2007: Representative Director and President, Walt Disney Japan K.K. Jul 2014: President, Walt Disney Company Asia Sep 2018: Managing Director, PMC Partners K.K. (current) Jun 2019: Outside Director, Yamaha Corporation (current) Sep 2019: CEO, Age of Learning, Inc. Mar 2022: Outside Director (Audit and Supervisory Committee Member), Dentsu Group Inc. Mar 2023: Outside Director, Dentsu Group Inc. (current)

1958-12-04

Andrew HOUSE

Outside Director; Member of the Compensation Committee

Oct 1990: Joined Sony Corporation Oct 2005: Group Executive and Chief Marketing Officer, Sony Corporation Sep 2011: Representative Director, President, Global CEO and Group Executive, Sony Computer Entertainment Inc. (now Sony Interactive Entertainment Inc.) Apr 2016: Representative Director, President and Global CEO, Sony Interactive Entertainment Inc. Oct 2017: Chairman, Sony Interactive Entertainment Inc. Apr 2018: Strategic Advisor, Intelity (current) Oct 2018: Executive Mentor, The Exco Group (current) Jun 2019: Outside Director, Nissan Motor Co., Ltd. (current) May 2021: Non-Executive Director, Nordic Entertainment Group AB (now Viaplay Group AB) Mar 2022: Outside Director (Audit and Supervisory Committee Member), Dentsu Group Inc. Mar 2023: Outside Director, Dentsu Group Inc. (current) Mar 2026: Outside Director, Shiseido Company, Limited (current)

1965-01-23

Keiichi SAGAWA

Outside Director; Member of the Audit Committee; Member of the Finance Committee

Apr 1988: Joined Recruit Co., Ltd. (now Recruit Holdings Co., Ltd.) Apr 2006: Executive Officer, Business Management Office, Recruit Co., Ltd. Jun 2011: Director and Executive Officer, in charge of Accounting & Finance, Legal, General Affairs, Investment Management, Corporate Communications and Compliance, Recruit Co., Ltd. Apr 2013: Director and Managing Executive Officer, in charge of Administration Division, Recruit Co., Ltd. Apr 2016: Director and Senior Managing Executive Officer, in charge of Finance Division, Recruit Co., Ltd. Apr 2017: Director and Senior Managing Executive Officer, in charge of Finance and Administration Divisions, Recruit Co., Ltd. May 2017: Director and Senior Managing Executive Officer, in charge of Finance Division (CFO) and Administration Division (CRO), Recruit Co., Ltd. Apr 2019: Director and Senior Managing Executive Officer, in charge of Finance Division (CFO), Recruit Co., Ltd. Jun 2020: Advisor, Recruit Co., Ltd. Jan 2022: Outside Director, Gimmick Co., Ltd. (current) Mar 2022: Outside Director (Audit and Supervisory Committee Member), Dentsu Group Inc. Mar 2023: Outside Director, Dentsu Group Inc. (current)

1966-03-07

Large Shareholding Reports

Nomura Asset Management Co., Ltd.

2026-10-22

6.14%→6.39%

Amova Asset Management Co., Ltd.

2026-10-21

3.11%→3.16%

Nomura Asset Management Co., Ltd.

2026-09-24

5.88%→6.14%

Amova Asset Management Co., Ltd.

2026-08-06

3.11%

Mizuho Securities Co., Ltd.

2026-07-23

2.99%

Nomura Asset Management Co., Ltd.

2026-07-22

5.80%→5.88%

Nomura Asset Management Co., Ltd.

2026-07-06

5.69%→5.80%

Nomura Asset Management Co., Ltd.

2026-06-19

3.99%→5.69%

Nomura Asset Management Co., Ltd.

2026-06-04

5.29%→3.99%

Asset Management One Co., Ltd.

2026-05-22

2.07%→2.06%

Nomura Asset Management Co., Ltd.

2026-05-21

4.48%→5.29%

Mizuho Securities Co., Ltd.

2026-05-12

2.99%

Nomura Asset Management Co., Ltd.

2026-05-11

4.84%→4.48%

Mizuho Securities Co., Ltd.

2026-04-22

2.94%→2.29%

Nomura Asset Management Co., Ltd.

2026-03-19

5.23%→4.84%

Nomura Asset Management Co., Ltd.

2026-02-19

4.93%→5.23%

Amova Asset Management Co., Ltd.

2026-02-05

2.98%→2.92%

Mizuho Securities Co., Ltd.

2026-01-22

2.94%

Nomura Asset Management Co., Ltd.

2026-01-21

3.90%→4.93%

Amova Asset Management Co., Ltd.

2026-01-21

2.96%→2.98%

Nomura Asset Management Co., Ltd.

2026-01-09

5.68%→3.90%

Amova Asset Management Co., Ltd.

2026-01-08

2.97%→2.96%

Nomura Asset Management Co., Ltd.

2025-12-22

5.21%→5.68%

Amova Asset Management Co., Ltd.

2025-12-19

2.98%→2.97%

Asset Management One Co., Ltd.

2025-12-05

2.12%→2.15%

Nomura Asset Management Co., Ltd.

2025-12-02

5.86%→5.21%

Mizuho Securities Co., Ltd.

2025-10-22

2.96%

Nomura Asset Management Co., Ltd.

2025-10-21

5.58%→5.86%

Mitsubishi UFJ Trust and Banking Corporation

2025-10-20

1.78%→1.78%

Nomura Asset Management Co., Ltd.

2025-10-07

5.87%→5.58%

Asset Management One Co., Ltd.

2025-10-07

2.39%→2.13%

Mitsubishi UFJ Trust and Banking Corporation

2025-09-30

1.78%

Amova Asset Management Co., Ltd.

2025-09-19

3.11%→2.98%

Nomura Asset Management Co., Ltd.

2025-09-19

6.48%→5.87%

Nomura Asset Management Co., Ltd.

2025-08-21

6.84%→6.48%

Silchester International Investors LLP

2025-03-21

9.36%→9.49%

Silchester International Investors LLP

2025-02-19

8.23%→9.36%

Silchester International Investors LLP

2023-11-21

7.11%→8.23%

Silchester International Investors LLP

2023-10-02

6.08%→7.11%

Silchester International Investors LLP

2023-07-25

5.05%→6.08%

Silchester International Investors LLP

2023-03-13

5.05%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-10-22

Large Shareholding Report

DENTSU GROUP INC.

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DENTSU GROUP INC.

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