Questions about the “lawsuit against Mr. Nakai” and “withdrawal from the broadcasting business” were also asked… The entirety of the heated “Fuji HD” shareholders’ meeting.

Will the company be able to kick out the “complaining shareholders” and continue on the path of revitalization?

On June 25, Fuji Media Holdings (FMH) held its 84th annual shareholders meeting at the Ariake Arena.

Despite the rain, 3,364 shareholders attended the meeting, including inventor Dr. Nakamatsu (97) and businessman Takafumi Horie (52). Half of the shareholders remained after four and a half hours, making for an enthusiastic meeting. The question that generated the most reaction was the response to Masahiro Nakai, 52, a TV personality who had a trouble with a former female Fuji TV announcer. When the question was raised as to why he had not filed a claim for damages, there was loud applause from the audience. Kenji Shimizu, 64, the new president,

Mr. Shimizu said, “We did not put Mr. N’s case on the back burner. Mr. N’s case is complicated, and we will consider it while seeking advice from legal experts.

The audience responded, “Nakai, sue him. The audience shouted, “Nakai, sue him! The audience yelled, “Sue him, Nakai!

Fuji Television’s corporate governance, which has long been viewed as a problem, came to the surface with the revelations about Mr. Nakai at the end of last year, causing sponsors to pull away from the company. Even if sponsors return to Fuji Television during the October programming change period, the company will be left with meager income for more than six months. A shareholder asked the following question.

If sponsors do not return, the broadcasting business will become a loss-making division. What are your thoughts on withdrawing from the unprofitable sector?

Mr. Shimizu, who had spoken without losing face during the 10-hour long press conference in January of this year, responded with a rather stern look on his face.

The TV business can survive if it gains a certain market share. The broadcasting business is necessary to drive the content business, which can be monetized, and there are still ways to monetize the broadcasting business.

Mr. Shimizu aims to reform the earnings structure. Until now, advertising revenue from TV programs has been the main source of earnings. However, when sponsors pulled out, as they did this time, the company quickly fell into the red. Shimizu has turned his attention to the intellectual property (IP) of movies and animations, and has established a new “IP and Animation Business Department” to turn it into a profit base. To this end, he is selling off his shares and preparing to invest 250 billion yen over the next five years.

He said, “Nintendo is doing well in the IP business with its globally loved characters such as Mario, Pokemon, and Zelda, while also producing games. President Shimizu will probably strengthen the movie and animation business and promote it to overseas sales, just as he did in the animation business with “Dragon Ball” and “Chibi Maruko-chan. The animation IP will be the core of FMH’s earnings along with the real estate business,” said a market advisor.

Mr. Shimizu also said that he has parted ways with former Chairman Hisashi Hieda (87), who has been at the core of the company’s management for 40 years, saying that he will step down as a director and advisor at this general shareholders’ meeting and that he has not consulted with him about any particular matters.

However, he acknowledged the payment of Mr. Hieda’s retirement benefits, saying, “We have not disclosed the amount.

Farewell to Caster Osamu Sorimachi

The president also personally announced that he was parting ways with “one more person. The main anchor of “BS Fuji Live Prime News,” Mr. Osamu Sorimachi (61). After a third-party committee investigation found that he had harassed a female employee who refused to go on a date with him, he was removed from the program and resigned as a member of the board of directors. Mr. Sorimachi even consulted with the office of a prominent member of the Liberal Democratic Party about moving into politics, taking his seppuku in the middle of the day to the office of a prominent member of the LDP. Shareholders voiced their support for Mr. Sorimachi.

I like to watch Prime News. The female anchors do their best, but their criticism of politicians is not good enough. Can’t you get Ms. Sorimachi back on the show?”

When the audience erupted in laughter, Shimizu replied, “I don’t know what will happen in the future, but it’s tough under the current circumstances. The possibility of his return is extremely low,” he dismissed the question. More than four hours after the start of the session, questions came in from unexpected angles.

He asked, “If we become a conservative-oriented media outlet like Fox News in the U.S., will we be able to attract new sponsors?”

When the atmosphere in the hall turned sour at the comments of a shareholder who was unaware of the reality of the Japanese media business, which is bound by the Broadcasting Act, which places the highest priority on impartiality and neutrality, the board made a decision, saying that it had exhausted its arguments.

The board rejected a series of shareholder proposals, including one by Dalton Investments, a “shareholder with a voice,” to invite outside directors to join the board. A proposal to appoint 11 candidates for the board of directors, including Mr. Shimizu, was approved. With the exception of Mr. Shimizu, all of the company’s directors were replaced at the shareholders’ meeting, marking a fresh start for the company. It is rare for a Japanese company to make such a major personnel change without relying on external pressure.

On March 25, Dalton issued a statement to FMH, which is trying to rebuild itself under the new structure, saying that “the general shareholders’ meeting is just a long road to reform” and that it “will continue to propose the divestiture of the real estate business.

The largest individual shareholder, Aya Nomura, 37, who heads Reno, said to be an investment company affiliated with the former Murakami Fund, is also believed to have taken FMH’s side this time, but has publicly stated his intention to “separate real estate.

The new Shimizu administration has been entrusted with the task of restoring FMH’s management, which was triggered by Nakai’s troubles, and the spark of conflict is still smoldering over whether commercials can resume, the separation of the real estate business, and a focus on the contents business.