Fuji Media chief apologizes for scandal at shareholders meeting
Fuji Media Holdings Inc. President Osamu Kanemitsu apologised for the group's much-criticised handling of a sexual assault scandal involving former television star Masahiro Nakai, at the start of a general meeting of its shareholders on Wednesday.
Executive Vice President Kenji Shimizu, who is also president of the group's embattled Fuji Television Network Inc. unit, expressed his determination to reform the corporate culture and governance, and sought shareholders' support for the management's board nominees.
Fuji Media has proposed 11 board candidates, only one of whom, Shimizu, is currently on the board. The other candidates include Takashi Sawada, former president of convenience store chain FamilyMart Co.
Meanwhile, Dalton Investments, a US firm holding a 7.5 pct stake in Fuji Media, has proposed a competing slate of 12 candidates, including SBI Holdings Inc. Chairman and President Yoshitaka Kitao.
Both sides have asked major shareholders and institutional investors to back their respective candidates while appealing to individual shareholders through the media.
At the meeting, shareholders will vote on each of the board candidates. Of those who won majority support, up to 18 candidates who received the highest approval ratings will be appointed.
In the scandal, Fuji TV failed to report Nakai's alleged sexual assault in June 2023 to its compliance department, highlighting its lack of awareness of human rights.
Many sponsors pulled their commercials from the broadcaster after the group held a press conference on the matter in January, and most have not resumed advertising.
Fourteen Fuji Media board members, including Hisashi Hieda, a group heavyweight who served as a director for over four decades, will step down on Wednesday.
[Copyright The Jiji Press, Ltd.]
