A team from Tokyo Broadcasting System Inc. will visit the headquarters of Internet portal operator Rakuten Inc. on Friday to get information on its financial condition, a senior TBS official said.
The visit marks a break from the TV broadcaster's approach to deal with its aggressive suitor only in writing. But TBS stressed the meeting would not be a forum for negotiations on the merger proposed by Rakuten.
'It will be only a working-level meeting," the TBS official said Thursday.
The official also denied media reports that the heads of the two firms will meet before the broadcaster's formal reply to avoid a showdown.
TBS said its in-house team requested Friday's face-to-face meeting. Despite its repeated request, Rakuten has refused to provide it with vital financial information, including earnings projections.
After conducing the hearing, the working team is expected to finish the first draft of its conclusions over the weekend. But the odds against Rakuten are increasing, with TBS officials saying the hurdles are too high for the two to merge.
If TBS rejects Rakuten's proposal, the Internet business is expected to take a more aggressive approach to acquire the broadcaster.
The TBS officials said they are set to take countersteps.