128

Subsidia r ies and Af f ilia t es

Dentsu conducts its business together with its subsidiaries

and affiliates. At September 30, 2001, Dentsu had 106

subsidiaries, 58 of which were consolidated subsidiaries and

one of which was accounted for by the equity method in

Dentsu's financial statements. At the same date, Dentsu had

69 affiliates, 10 of which were accounted for by the equity

method.

The following table sets forth information as of September

30, 2001 on Dentsu's consolidated subsidiaries, as well as

subsidiaries and affiliates accounted for by the equity method.

100.0%

100.0

100.0

100.0

100.0

73.0 ( 0.3%)

100.0

100.0

100.0

100.0

100.0

100.0

100.0

61.8

70.0 ( 70.0)

100.0

100.0

100.0

95.0

100.0

72.3

48.7

41.4

51.0

51.0

100.0 (100.0)

100.0

100.0

100.0

100.0 (100.0)

77.6 ( 77.6)

100.0 (100.0)

100.0 (100.0)

100.0 (100.0)

100.0 (100.0)

Name

Consolidated Subsidiaries

Dentsu East Japan Inc.

Dentsu West Japan Inc.

Dentsu Kyushu Inc.

Dentsu Hokkaido Inc.

Dentsu Tohoku Inc.

Dentsu Tec Inc.

Ad Dentsu Tokyo Inc.

Ad Dentsu Osaka Inc.

Ad Dentsu Inc. (Nagoya)

Ad Dentsu Inc. (Hokkaido)

Dentsu Kosan Service Inc.

Dentsu Public Relations Inc.

Dentsu Research Inc.

Information Services

International-Dentsu, Ltd.

Brainyworks, Ltd.*

Dentsu Eye, Inc.

Dentsu Management Services Inc.

Dentsu Music Publishing Inc.

Dentsu.Com, Inc.

Dentsu Casting and

Entertainment Inc.

Music Gali Inc.

cyber communications inc.

Creative Associates Ltd.

Dentsu Young & Rubicam Inc.

impiric dentsu inc.

Dentsu Sudler & Hennessey Inc.

Dentsu Holdings USA, Inc.

Dentsu Holdings Europe Ltd.

Dentsu Oceania Pty Ltd.

DCA Advertising, Inc.

Renegade Marketing Group, LLC

DCC Communications Inc.

Sports Culture Excellence Inc.

Dentsu Communications Inc.*

Collett, Dickenson, Pearce UK

Advertising Ltd.

Geographic Area

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

Japan

U.S.A.

U.K.

Australia

U.S.A.

U.S.A.

Canada

U.S.A.

U.S.A.

U.K.

Equity held by Dentsu

(Equity held indirectly)

129

Equity held by Dentsu

(Equity held indirectly)

100.0%(100.0%)

87.5 ( 87.5)

90.0 ( 90.0)

60.0 ( 60.0)

50.5 ( 50.5)

76.0 ( 76.0)

100.0 (100.0)

80.0 ( 80.0)

100.0 (100.0)

60.0 ( 60.0)

100.0 (100.0)

100.0 (100.0)

100.0 (100.0)

100.0 (100.0)

100.0 (100.0)

80.0 ( 80.0)

100.0 (100.0)

52.0

90.0 ( 60.0)

49.0

80.0 ( 80.0)

81.0 ( 47.7)

51.0

40.0

34.0

21.8

100.0 ( 66.0)

37.5

50.0 ( 50.0)

30.0 ( 30.0)

50.0 ( 50.0)

34.0 ( 34.0)

99.2 ( 99.2)

34.0 ( 34.0)

Name

Sharp Image Creative Services Ltd.

Travissully Ltd.

Rose Abascal, S.A.

Cayenne Werbeagentur GmbH

BlueChip Agentur für Public

Relations & Strategie GmbH

indigo : Werbeagentur GmbH

BLD Europe S.A.

Production Concepts S.A.

CCP Positioning srl

Dixsos GmbH*

AVA CDP Europe, S.A.

Almeida, Vaquero Y Associados, S.A.

Dentsu Pacific Pty Ltd.

D’Arcy Australia Pty Ltd.

Starcom Worldwide (Australia)

Pty Ltd.

Mediactive Pty Ltd.

Great White Light Pty Ltd.

Dentsu (Taiwan) Inc.

Dentsu Commex, Inc.

Dentsu (Thailand) Ltd.

Leads Co., Ltd.

Pro Q Ltd.

Beijing Dentsu Advertising Co., Ltd.*

Equity-Method Subsidiary

Phoenix Communications Inc.

Affiliates

Video Research Ltd.

Bcom3 Group, Inc.

beacon communications k.k.*

DCTP Entwicklungsgesellschaft für

TV-Programm mbH

The Lord Group, LLC

RPM Radar Reklam Pazarlama

Müsavirlik A.S.

The CDP Media Co., Ltd.

Duvoux, Roesche et Associes S.A.

154 S.A.

Caetsu Publicidade S.A.

Geographic Area

U.K.

U.K.

Spain

Germany

Germany

Germany

Belgium

Belgium

Italy

Germany

Spain

Spain

Australia

Australia

Australia

Australia

Australia

Taiwan

Taiwan

Thailand

Thailand

Thailand

China

South Korea

Japan

U.S.A.

Japan

Germany

U.S.A.

Turkey

U.K.

France

France

Portugal

*Adopted as a consolidated subsidiary or as an affiliate accounted for by the equity method from the fiscal year ending March 31, 2002.

Boa rd o f Direct or s,

Corpor a t e Auditor s and Execut ive Of f icer s

Dent su Inc.

(As of Sept ember 30, 2001)

130

Yutaka Narita*

Tateo Mataki*

Yasutoshi Kimura

Fumio Oshima

Hitoshi Hanatsuka

Tetsu Nakamura

Hideaki Furukawa

Ko Matsumoto

Kazuo Miyakawa

Tatsuyoshi Takashima

Isao Maruyama

Toshiaki Nozue

Masatoshi Murakami

Ichiro Saita

Makio Kasahara

Kojiro Takahashi

Akira Nanbara

Haruo Shimada

Shunro Hamada

*Representative Director

Takehiko Kimura

Tsuyoshi Takeuchi

Masahiko Akashi

Koichi Segawa

Yasuhiko Ubukata

Toshitaka Shimojo

Hiromori Hayashi

Sachio Demura

Megumi Niimura

Naoki Kobuse

Kimiharu Matsuda

Michio Niiyama

Koichi Mizuno

Noriyuki Shutto

Haruyuki Takahashi

Susumu Kawakami

Toichi Ogitani

Norichika Koyama

Ryuichi Mori

Itsuma Wakasugi

President

Executive Vice Presidents

Senior Managing Directors

Managing Directors

Executive Directors

Senior Corporate Auditors

Corporate Auditors

Senior Executive Officers

Executive Officers

131

Information for Shareholders

Corpor a t e Headqua r t er s

1-11-10, Tsukiji, Chuo-ku, Tokyo 104-8426, Japan

Phone: +81-3-5551-5111

Inves tor Rela t ions Division

1-11-10, Tsukiji, Chuo-ku, Tokyo 104-8426, Japan

Phone: +81-3-5551-5620 Fax: +81-3-5551-2225

E-mail: irmail@dentsu.co.jp

Stock Exchange Listing

Tokyo Stock Exchange, First Section

Number of Shares Outstanding

(As of November 30, 2001)

1,390,920

General Meeting of Shareholders

The ordinary general meeting of shareholders will be held in

Tokyo in June.

Transfer Agent

The Mitsubishi Trust and Banking Corporation

11-1, Nagatacho 2-chome, Chiyoda-ku, Tokyo 100-8212, Japan

Int ernet Addres s ht tp://w w w.dent su.com

Prin

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