May 2026
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Largest Advertising & Marketing Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Dentsu Group, CyberAgent, Hakuhodo Dy Holdings, INTAGE HOLDINGS and Digital Holdings.
 | Dentsu Group is the top advertising agency in Japan and the fifth-largest advertising network in the world. It is the oldest advertising agency in Japan, with the original company being established in 1901. Over the years, Dentsu expanded its global footprint through mergers and acquisitions. Currently, international sales account for about 60% of total revenue. | $19 | -3% | $5B | $6B | 0.6x | 4.5x | ||
| CyberAgent is a prominent Japanese media company founded in 1998. Its core businesses include internet advertising, online broadcasting platforms, and gaming. | $8 | -10% | $4B | $3B | 0.6x | 6.7x | ||
| Hakuhodo is the second-largest advertising agency in Japan, and one of the oldest advertising agencies, founded in 1895. Over the years, Hakuhodo has acquired many international companies, and overseas revenue currently accounts for 15% of total sales. | $7 | -2% | $3B | $2B | 0.3x | 4.7x | ||
| INTAGE HOLDINGS Inc is engaged in the provision of marketing research and consulting system solutions, and healthcare development support in Japan. | $11 | -1% | $421M | $356M | 0.8x | 8.2x | ||
| Digital Holdings Inc promotes digital shifts across all management resources such as people, things, money, and information. The company provides digital marketing services. | $12 | +42% | $233M | $66M | — | — | ||
| Ceres Inc is engaged in the mobile service business and financial service business. | $12 | -- | $142M | $114M | 0.6x | 3.3x | ||
| MIC Co Ltd is a full-service provider of retail promotion services (business improvement consulting, printing, fulfillment, system development, BPO, creative designing, field supporting, etc.). | $19 | +34% | $132M | $112M | 1.5x | 14.3x | ||
| f-code Inc is engaged in providing comprehensive consulting services in digital marketing. | $9 | -30% | $110M | $140M | 1.8x | 8.7x | ||
| Macbee Planet Inc is engaged in provision of marketing analysis service using data. The company operates with 2 business areas, the Analytics Consulting Business which builds LTV prediction models by analyzing and visualizing purchasing data to derive optimal marketing methods, and the Marketing Technology Business which provides sales and operation support for in-house developed products utilizing data and technology. | $8 | -63% | $107M | $83M | 0.2x | 2.3x | ||
| Feedforce Group Inc is involved in the data feed business, digital advertising business, social media marketing business, and other businesses. The company has three reportable segments are Professional Services Business, SaaS Business, and DX Business. The Professional Services Business consists of two main services, Anagrams and DF PLUS, and provides marketing support and solutions that utilize data feeds and listings to businesses, mainly enterprise companies. The SaaS Business consists of three main services: Social PLUS, dfplus.io, and EC Booster. The DX Business consists of four main services: App Unity, Rewire, FRACTA, and Shippinno. | $3 | 0% | $76M | $65M | 2.2x | 5.3x | ||
| Orchestra Holdings Inc is engaged in digital marketing and life technology business. It provides SEM consulting, site production, banner production, Facebook page production, Facebook ads, listing advertisements services among others. It offers the total solution for digital marketing measures including operational type advertisement, SEO consulting, creative service. | $7 | -- | $62M | $90M | 0.9x | (1414.0x) | ||
| Itamiarts Inc is a B2B focused eCommerce shop, selling customizable “KING series” promotional items online. From designing to manufacturing and marketing. | $7 | -- | $11M | $25M | 0.8x | 8.0x | ||
| Median | $9 | -2% | $137M | $113M | 0.8x | 5.3x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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