Top Shareholder Plans to Raise Fuji Media Stake

Tokyo, Dec. 16 (Jiji Press)–Fuji Media Holdings Inc. said Monday that its top shareholder, Aya Nomura, has told the company that she aims to raise her stake in the parent of Fuji Television Network Inc. to up to 33.3 pct. Nomura, the eldest daughter of activist investor Yoshiaki Murakami, and an investment fund related to Murakami, owned 17.33 pct of Fuji Media together as of late August. Fuji Media is expected to launch a poison pill defense to block Nomura’s attempt. The Nomura side has demanded that Fuji Media separate its real estate business and better shareholder returns. In a letter addressed to the company, Nomura said she will withdraw the share purchase plan if it accepts the demands, according to Fuji Media. Fuji Media adopted the poison pill in July to fend off a possible takeover attempt by the Nomura side. Under the poison pill, if a specific shareholder attempts to own 20 pct or more of Fuji Media, the company will allocate warrants to buy new shares to other shareholders. Putting the poison bill into place requires approval from Fuji Media’s board and shareholders. END [Copyright The Jiji Press, Ltd.]