Latest news with #FujiMediaHoldingsInc
28-05-2025
- Business
Fuji Media Denies Dalton's Claim of No Discussions
News from Japan May 28, 2025 20:31 (JST) Tokyo, May 28 (Jiji Press)--Fuji Media Holdings Inc. issued a statement Wednesday denying the claim of Dalton Investments, a major shareholder in the Japanese media group, that it has refused to hold discussions on the U.S. investment firm's proposal regarding board members. Fuji Media said it has engaged in sincere dialogue with Dalton a total of 64 times, including by email, phone and in-person meetings. Fuji Media's management and Dalton have each proposed more than 10 candidates to join Fuji Media's board, ahead of the Japanese company's general shareholders meeting on June 25. In response to Fuji Media's rejection of Dalton's candidates, the U.S. firm has said it was regrettable that Fuji Media decided to oppose all of its candidates without holding discussions with it. Fuji Media also rejected Dalton's proposal to spin off its real estate business, saying that it has unique strengths as a media-affiliated real estate developer. [Copyright The Jiji Press, Ltd.] Jiji Press
16-05-2025
- Business
Japan's Fuji Media Adds 4 Director Candidates
News from Japan Economy May 16, 2025 23:29 (JST) Tokyo, May 16 (Jiji Press)--Japan's Fuji Media Holdings Inc. said Friday that it has decided to add four individuals to its list of director candidates, including Takashi Sawada, former president of convenience store chain FamilyMart Co. The parent of scandal-tainted Fuji Television Network Inc. also announced its opposition to a list of 12 outside director candidates proposed by U.S. fund Dalton Investments, a major Fuji Media shareholder. The 12 include SBI Holdings Inc. Chairman and President Yoshitaka Kitao. Fuji Media's remaining new director candidates are a company executive, a professor and a lawyer. "We've judged that this board composition is optimal" in terms of strengthening the corporate governance and legal compliance systems, Fuji Media Executive Vice President Kenji Shimizu, expected to become the next president of the company, told a press conference Friday. Fuji Media's board assessed Dalton's proposal and found that there are overlaps between the candidates' knowledge and achievements and those of Fuji Media's candidates, Shimizu said, explaining the reason for the opposition. [Copyright The Jiji Press, Ltd.] Jiji Press
16-05-2025
- Business
Japan's Fuji Media Posts Its 1st Net Loss in FY 2024
News from Japan Economy May 16, 2025 21:36 (JST) Tokyo, May 16 (Jiji Press)--Japan's Fuji Media Holdings Inc. on Friday reported a consolidated net loss of 20.1 billion yen for fiscal 2024, its first red ink since becoming a holding company in 2008. Fuji Media, which had logged 37 billion yen in profit a year earlier, saw many sponsors leave scandal-embattled core unit Fuji Television Network Inc. over its handling of a sex scandal involving now-retired TV personality Masahiro Nakai. Due to falling advertising revenue, the holding company's overall revenue dropped 2.8 pct and operating profit dived 45.4 pct. For fiscal 2025 through March 2026, Fuji Media expects to secure a net profit of 10 billion yen thanks to the strength of its real estate business and the sale of shareholdings. However, operating profit is expected to dive 86.3 pct to 2.5 billion yen, hurt by a prolonged impact of slumping ad revenue caused by suspensions and cancellations of TV commercials. [Copyright The Jiji Press, Ltd.] Jiji Press
The Star
13-05-2025
- Business
- The Star
Activist Dalton seeks talks with Fuji Media Holdings to avoid proxy fight
TOKYO: Dalton Investments' co-founder James Rosenwald says he wants to avoid a proxy fight with Fuji Media Holdings Inc, calling on the Japanese broadcaster to negotiate a settlement. Dalton is proposing 12 candidates to Fuji Media's board, including SBI Holdings Inc's outspoken chairman Yoshitaka Kitao. The company is also demanding the media group, which is grappling with a sexual assault scandal, spin off its real estate business, unwind cross shareholdings and push through corporate governance reform. In an interview, Rosenwald said he hoped Fuji TV president Kenji Shimizu would engage in talks before the broadcaster's full-year earnings results are released this Friday. Shimizu is slated to be the president of the group, pending approval at the annual shareholders' meeting in June. 'I would love to negotiate a settlement with him,' he said. 'You should be able to negotiate without having to fight in front of all the shareholders and go to a proxy contest.' Fuji Media is under fire over its repeated dismissal of sexual assault accusations against former TV host Masahiro Nakai. The flight of big-name advertisers spurred Fuji Media to slash its annual outlook and overhaul its board. But Dalton and other investors said that's too little change to address company-wide lack of accountability. — Bloomberg Trading ideas: Perak Transit, Eco-Shop, Sapura Energy, Yoong Onn, Muhibaah, HeiTech Padu, Dnex, Pentamaster, CJ Century, 3REN, ES, ManagePay, Wesrports, Sentral REIT
30-04-2025
- Business
Fuji Media to Swing into Net Loss
Tokyo, April 30 (Jiji Press)--Fuji Media Holdings Inc. said Wednesday that it expects to swing into a net loss in the year that ended in March due to the fallout of a scandal over its response to a sexual assault involving former television star Masahiro Nakai. The parent of Fuji Television Network Inc. expects to post a consolidated net loss of 20.1 billion yen, its first loss since the Japanese TV broadcaster shifted to the holding company structure. Fuji Media President Osamu Kanemitsu and three outside directors at the parent company will step down at a shareholders' meeting in June. The company previously said they would remain on the board. The three outside directors are Yoshishige Shimatani, chairman of film studio Toho Co., Kiyoto Saito, president of radio broadcaster Nippon Cultural Broadcasting Inc., and Yuzaburo Mogi, honorary chairman of food company Kikkoman Co. The reshuffle comes as Fuji Media adopted measures to prevent a repeat of the scandal, including scrapping its advisor system, introducing a retirement age system for executives and setting a term limit for outside directors. [Copyright The Jiji Press, Ltd.]
