 During the initial public offering of Dentsu, in December 2001, a trader at UBS Warburg, the Swiss investment bank, sent an order to sell 610,000 shares in this company at ¥6 each, while he intended to sell 16 shares at ¥600,000.The bank lost £71 million.Dentsu's sales are more than double its nearest competitor, Hakuhodo or ADK, in the Japanese market, thanks to the company's origins as a media representative during the early part of the 20th century, producing the first newspaper advertisements as well as the first television commercials in Japan.