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David Herro Comments on Hakuhodo DY Holdings

April 08, 2014 | About:
Holly LaFon

Holly LaFon

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We added a new Japanese security to the Fund this quarter, Hakuhodo DY Holdings (TSE:2433), Japan’s second-largest advertising agency. Hakuhodo has offices in more than 15 countries, including approximately 14% of the market share of Japan. It consists of three advertising businesses that offer a wide range of services to client advertisers and media companies. During the quarter, we sold Square Enix Holdings, Takata, and NORMA Group.

From David Herro (Trades, Portfolio)'s Oakmark International Small Cap Fund: First Quarter 2014 Commentary.


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