Dalton Proposes 12 New Directors for Fuji Media, Including SBI's Kitao and STARTO's Fukuda, Amid Sexual Assault Allegations

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Updated Apr 16, 2025, 11:19 AM

U.S. investment firm Dalton Investments, holding a 7% stake in Fuji Media Holdings, has proposed a complete overhaul of the Japanese media group's board of directors. The proposal, set to be presented at the company's annual general meeting in June, includes 12 new director candidates. Among the proposed candidates are Yoshitaka Kitao, chairman and president of SBI Holdings, Jun Fukuda, CEO of STARTO Entertainment, and James Rosenwald, a founding partner of Dalton. This move comes in response to Fuji Media's handling of sexual assault allegations against Masahiro Nakai, which Dalton believes has not been adequately addressed by the current management's proposed board changes, which retain five directors. Dalton's proposal aims to sweep away what it describes as the remnants of the 'Hibi regime,' referring to the long-term leadership of Hisashi Hibi, which they argue led to the company's decline. The fund also seeks to reform the company's governance and divest its real estate business, which they see as unrelated to its core broadcasting operations.

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#Dalton Investments #Fuji Media Holdings #Japanese #Yoshitaka Kitao #SBI Holdings #Jun Fukuda #STARTO Entertainment #James Rosenwald #Dalton #Fuji Media #Masahiro Nakai #Hibi #Hisashi Hibi

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Sources

jp.reuters.com(6)nikkei.com(4)jiji.com(3)news.tv-asahi.co.jp(3)

毎日新聞

@mainichi

Shareholder proposal released to US fund Fuji HD (Sponichi) https://t.co/tRkbDeZaDi

時事ドットコム（時事通信ニュース）

@jijicom

12 proposed directors, including the US fund and SBI Mr. Kitao, oppose Fuji management team https://t.co/Xikxx65skq

The Japan Times

@japantimes

U.S. investment firm Dalton Investments, a major shareholder in Fuji Media Holdings, will propose candidates for the Japanese media group's board of directors. https://t.co/avVbEbbXcH