Key Facts
• On July 10, Fuji Media Holdings announced a takeover defense measure.
• The decision follows significant stock acquisitions by former Murakami Fund investors.
• Fuji Media Holdings met with Yoshihiko Murakami and others multiple times from February to July.
• Former Murakami Fund investors suggested acquiring up to 33.3% of shares.
• As of July 1, their ownership ratio stood at 15.06%.
• Concerns were raised about actions prioritizing personal profit over shareholder interests.
• Fuji Media suspects plans to separate and control its subsidiaries.
• Specific subsidiaries targeted were not disclosed.
• The defense involves issuing stock acquisition rights to dilute ownership.
• Shareholder approval is required to activate the measure.
Summary
Fuji Media Holdings, the parent company of Fuji Television, has introduced a takeover defense strategy in response to significant stock acquisitions by former Murakami Fund investors. The company revealed that these investors, who currently hold 15.06% of shares, hinted at increasing their stake to 33.3%. Concerns were raised about potential actions prioritizing personal profit over collective shareholder interests, as well as intentions to separate and control Fuji Media subsidiaries. To counter this, Fuji Media plans to issue stock acquisition rights to dilute the investors’ ownership, pending shareholder approval. The company has not disclosed which subsidiaries may be targeted.
