U.S. investment firm Dalton Investments, a major shareholder in Fuji Media, will propose candidates for the Japanese media group's board of directors, Dalton officials said Tuesday.
Fuji Media is the parent of Fuji Television Network, which has been under fire for its handling of a sex scandal involving former TV star Masahiro Nakai.
According to Bloomberg, Dalton is seeking the appointments of 12 people, including Yoshitaka Kitao, chairman and president of Japanese financial service firm SBI, to Fuji Media's board ahead of the company's general shareholders meeting planned in late June.
Other candidates include James Rosenwald, co-founder of Dalton, Minoru Kikuoka, former president of Japan Display, and Atsushi Fukuda, CEO of Starto Entertainment, which took over the talent management operations of now-defunct Johnny & Associates, Bloomberg said.
Dalton said in a statement that the old-fashioned corporate structure of Fuji Media must be swept away. In addition to revamping Fuji Media's board of directors, Dalton called on the media group to spin off its real estate business and to work on reforming Fuji TV's business structure and improving the broadcaster's content production capabilities.
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