ADK Holdings

ADK Holdings is the current corporate identity of the Japanese advertising group historically known as Asatsu-DK. The business traces its origins to Asatsu Inc., founded in 1956 by Masao Inagaki, and became Asatsu-DK on January 1, 1999, following the merger of Asatsu with Dai-ichi Kikaku, an advertising company established in 1951. The initials “DK” refer to Dai-ichi Kikaku. The company developed as a full-service advertising and communications organization serving Japanese and international clients. Its activities have extended beyond conventional advertising into campaign planning, creative services, television commercial production, content production, media-related work, animation, publishing, and the development and management of entertainment properties. Through its own operations and affiliated companies, ADK has participated in the production and promotion of anime and other media projects, including titles associated with the Gundam franchise. Its group interests have included production companies, animation studios, publishing businesses, processing services, and specialist creative companies. ADK established an international presence during the 1990s. Asatsu-DK Europe was founded in Amsterdam in 1993, and the wider organization later expanded to approximately 80 offices in more than 20 countries. In Japan, the company has generally been described as one of the country's three largest advertising agencies, behind Dentsu and Hakuhodo. Its Tokyo headquarters moved from Tsukiji in Chuo to the Toranomon Hills complex in Minato in June 2014. The group formed a business relationship with WPP in August 1998, shortly before the Asatsu-DK merger. In later years it pursued a broader content and intellectual-property strategy, supported by subsidiaries and affiliated production companies. On January 1, 2019, Asatsu-DK was reported to have fully acquired d-rights, a company it had previously owned jointly with Mitsubishi Corporation. Ownership changed substantially in the late 2010s. In 2017, Bain Capital was reported to be considering the acquisition of Asatsu-DK for approximately ¥152 billion. Bain Capital subsequently owned the company between 2018 and 2025. In June 2025, South Korean video-game developer Krafton announced an agreement to acquire ADK Holdings from Bain Capital Japan as part of a strategic partnership. The transaction linked ADK's advertising, content, animation, and entertainment capabilities with Krafton's game and intellectual-property ecosystem. The available reference material does not establish all closing conditions or the precise post-transaction corporate structure. ADK's brand therefore represents both a Japanese advertising heritage and a wider content-business platform. Its portfolio spans brand communications and the creation, production, and exploitation of entertainment content. The company has also faced reputational scrutiny: in October 2022, president Shinichi Ueno was arrested during a prosecutors' investigation into alleged bribery connected with sponsorship arrangements for the Tokyo 2020 Olympic and Paralympic Games. The allegations concerned payments totaling ¥47 million routed through two channels to a former executive of the Tokyo Olympic organizing committee. The case forms a significant part of the company's recent corporate history.

ADK Holdings began with the establishment of Asatsu Inc. in 1956 by Masao Inagaki. The company operated as a Japanese advertising agency and later expanded its capabilities into broader communications and content-related activities. Dai-ichi Kikaku, another Japanese advertising company founded in 1951, became the other principal component of the group's later corporate identity. In August 1998, Asatsu entered a business tie-up with WPP. Soon afterward, Asatsu merged with Dai-ichi Kikaku, creating Asatsu-DK on January 1, 1999. The “DK” designation commemorated Dai-ichi Kikaku. The merger established the corporate platform that later became ADK Holdings. The organization expanded outside Japan during the 1990s. Asatsu-DK Europe was established in Amsterdam in 1993, and the group subsequently developed a network of roughly 80 offices in more than 20 countries. In Japan it became recognized as a leading advertising agency, commonly positioned behind Dentsu and Hakuhodo by market scale. The company moved its Tokyo headquarters from Tsukiji in Chuo to the Toranomon Hills building complex in Minato in June 2014. ADK's business broadened beyond advertising into content and entertainment. Its interests included the production companies NAS and d-rights; animation studios Eiken and Gonzo; publishing company Nihon Bungeisha; Taiyo Seihan; Sun Artist Studio; Supervision; television commercial producer Prime Pictures; and creative services company Tokyo Ad Party. Through its own activities and these affiliated businesses, ADK participated in anime production and related services. Its credits and commercial involvement included several Gundam-related series, among other anime properties. The company continued to adjust its ownership and portfolio structure. In January 2019 it was reported to have completed the acquisition of d-rights, which had previously been jointly held with Mitsubishi Corporation. In 2017, Bain Capital was reported to be considering the acquisition of Asatsu-DK for approximately ¥152 billion. Bain Capital owned the company from 2018 until 2025. The group experienced a major governance and reputational crisis in 2022. In October of that year, president Shinichi Ueno was arrested as part of a prosecutors' investigation into alleged bribery connected with sponsorship contracts for the Tokyo 2020 Olympic and Paralympic Games. The allegation was that ADK sent ¥47 million through two routes to a former executive of the Olympic organizing committee to obtain favorable treatment. The available reference does not provide a complete account of the legal outcome or all subsequent management changes. On June 24, 2025, Krafton announced that it would buy ADK Holdings from Bain Capital Japan under a strategic partnership. Krafton is a South Korean video-game developer, and the announced transaction suggested a closer connection between ADK's advertising, content, animation, and intellectual-property capabilities and Krafton's game-related business. The supplied reference does not confirm every completion detail, so the precise post-acquisition operating structure remains subject to verification.

1. 2025Krafton announces acquisition

   Krafton announces an agreement to acquire ADK Holdings from Bain Capital Japan through a strategic partnership.

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2. 2022President arrested in Olympic sponsorship investigation

   President Shinichi Ueno is arrested in a prosecutors' investigation into alleged bribery related to Tokyo 2020 Olympic sponsorship contracts.

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3. 2019d-rights becomes wholly owned

   Asatsu-DK is reported to have fully acquired d-rights after a period of shared ownership with Mitsubishi Corporation.

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4. 2018Bain Capital ownership begins

   Bain Capital becomes the company's owner following the acquisition process reported in the preceding year.

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5. 2014Tokyo headquarters relocates to Toranomon Hills

   The company moves its headquarters from Tsukiji in Chuo to the Toranomon Hills complex in Minato, Tokyo.

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6. 1999Asatsu-DK is formed

   Asatsu and Dai-ichi Kikaku merge on January 1 to form Asatsu-DK.

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7. 1998Business tie-up with WPP

   Asatsu enters a business relationship with the WPP Group before its merger with Dai-ichi Kikaku.

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8. 1993Asatsu-DK Europe is established

   The group establishes an international European operation in Amsterdam.

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9. 1956Asatsu Inc. is founded

   Masao Inagaki establishes Asatsu Inc., the predecessor of ADK Holdings.

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10. 1951Dai-ichi Kikaku is established

    Dai-ichi Kikaku, the company whose initials later supplied the “DK” in Asatsu-DK, is established as a Japanese advertising agency.

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A Japanese full-service advertising and communications group differentiated by its combination of brand marketing, content production, anime and entertainment capabilities, and international operations.

• Integrated advertising servicesAdvertising and communications

  ADK's core business is the planning and delivery of advertising and communications programs for brands and organizations. The group combines strategic, creative, media-related, and production capabilities rather than limiting its activities to a single advertising format.

• Content and entertainment productionMedia and entertainment

  The group has participated in the development and production of entertainment content through affiliated production businesses and other interests. These activities support the creation, marketing, and commercial use of media properties alongside conventional client advertising.

• Anime production and servicesAnimation

  ADK and its subsidiaries have been involved in producing and providing services for anime series. The group's documented involvement includes multiple Gundam installments, including Mobile Suit Gundam 00, Turn A Gundam, Mobile Suit Gundam SEED, and Mobile Suit Gundam SEED Destiny.

• Television commercial productionAdvertising production

  Through production interests such as Prime Pictures, ADK has supported the creation of television commercials and related audiovisual advertising materials for clients and campaigns.

• Publishing and creative servicesPublishing and creative services

  The wider group has included publishing and specialist creative-service businesses, including Nihon Bungeisha and Tokyo Ad Party. These interests broaden the organization beyond campaign execution into content and creative production.

• 2025Proposed acquisition by KraftonM&A

  Bain Capital had owned ADK since 2018, while Krafton was seeking a strategic connection between its game business and broader entertainment capabilities.

  What changed. Krafton announced on June 24, 2025 that it would acquire ADK Holdings from Bain Capital Japan as part of a strategic partnership.

  Aftermath. The announced transaction positioned ADK's advertising, animation, content, and intellectual-property capabilities within a South Korean game company's strategic ecosystem. Completion details are not established in the supplied reference.

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• 2019Full acquisition of d-rightsM&A

  Asatsu-DK had previously shared d-rights with Mitsubishi Corporation.

  What changed. The company was reported to have fully acquired d-rights on January 1, 2019.

  Aftermath. The transaction strengthened Asatsu-DK's control over a content-related business, although the supplied material does not provide further operating or financial details.

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• 1999Merger with Dai-ichi KikakuM&A

  Asatsu and Dai-ichi Kikaku were both established Japanese advertising businesses seeking to combine their capabilities.

  What changed. The companies merged on January 1, 1999, creating Asatsu-DK.

  Aftermath. The merger created the corporate identity that later developed into ADK Holdings and expanded into international advertising and content businesses.

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• 2022Tokyo 2020 Olympic sponsorship bribery investigationControversy

  ADK president Shinichi Ueno was arrested in October 2022 during a prosecutors' investigation into alleged bribery. Prosecutors alleged that ADK sent ¥47 million through two routes to a former executive of the Tokyo Olympic organizing committee in exchange for preferential treatment in sponsorship contracts for the 2020 Olympic and Paralympic Games. The supplied reference does not establish the final legal disposition.

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• 2025Krafton announces agreement to acquire ADK Holdings

  South Korean video-game developer Krafton announced that it would acquire ADK Holdings from Bain Capital Japan as part of a strategic partnership intended to connect ADK's advertising and entertainment capabilities with Krafton's game business.

  M&A
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• 2019Asatsu-DK completes acquisition of d-rights

  Asatsu-DK was reported to have fully acquired d-rights after previously sharing ownership of the company with Mitsubishi Corporation.

  M&A
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• 2019ADK completes full acquisition of d-rights

  ADK was reported to have fully acquired d-rights after previously sharing ownership of the company with Mitsubishi Corporation.

  M&A
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• 2017Bain Capital reportedly considers acquisition of Asatsu-DK

  Bain Capital was reported to be considering the purchase of Asatsu-DK in a transaction valued at approximately ¥152 billion.

  M&A
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1. Asatsu-DK
2. ADK official website