Fuji Media wins boardroom battle
Japanese broadcasting giant Fuji Media Holdings has held its annual shareholders' meeting. The company was embroiled in a power struggle with a major shareholder but appears to have come out on top, with all 11 of its candidates being named to the board.
The company and its subsidiary Fuji Television Network have come under fire since a sexual assault scandal involving former pop star Nakai Masahiro came to light.
Fuji Media had proposed a management reshuffle and improvements to corporate governance in response. But US-based shareholder Dalton Investments called for stronger measures.
Fuji Media named eleven candidates for the board. They included the president of Fuji TV, Shimizu Kenji, and the former president of the FamilyMart convenience store chain, Sawada Takashi.
Dalton said external directors should be appointed and proposed 12 candidates of its own. But none of them were voted onto the board.
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