4676 Fuji Media HD
- Japan Guru
- Jul 15, 2025
- 1 min read
Updated: Jul 20, 2025
Fuji Media HD is part of the Fujisankei Group. Strong among young demographics. TV viewership is declining. Promotes diversified operations in music, e-commerce, real estate, and more.
turns out that Fuji Media's press release to justify their poison pill is a quality analysis of historical investments made by Murakami Fund
https://x.com/10saiYofor4/status/1943575504801423367
Toyo Keizai report, July 7:
"At the June AGM, the highest approval rate for shareholder proposals by Dalton Investments was 27%. Since the AGM convocation date, the Murakami Fund has increased its stake by 10%, so the combined voting power of the activist side can be considered 37%.
At AGMs, not 100% of voting rights are exercised. Taking such factor into account, acquiring shares worth 100 billion yen could secure proposal approval. Since April, the Murakami Fund has recovered just under 1,00 billion yen from other investments."
https://toyokeizai.net/articles/-/888876
"A source revealed, 'Mr. Murakami has been telling those around him that he wants to focus on FMH. So far, the former Murakami-affiliated investment funds have invested 70 to 80 billion yen in FMH, but he intends to invest an additional 100 billion yen. To that end, it seems he is selling off shares in other investments to raise funds.'
Furthermore, the source stated, 'Based on the results of the general shareholders' meeting, he plans to purchase shares equivalent to the vote difference between the company’s proposals and shareholder proposals, request an extraordinary shareholders' meeting, and appoint outside directors aligned with his intentions.'
It appears that Dalton is also considering an extraordinary shareholders' meeting. Since the record date of the…
Dalton Rosenwald, May 24, 2025:
"The value of Fuji Media is equivalent to the value of Sankei Building. Therefore, spinning off Sankei Building would at least double the company's value.
Furthermore, if media assets are properly managed, they are worth a fortune. Pony Canyon alone, with its vast library and characters, is worth billions of dollars.
It would be foolish for us to sell our shares."
https://www.nikkei.com/article/DGXZQOUC241WL0U5A520C2000000/
"Infroneer announced TOB for 1821 Sumitomo Mitsui Construction, in which Murakami Fund holds shares. If the TOB succeeds, it is estimated to secure nearly 30 billion yen in funds. Mr. Murakami reportedly intends to increase his stake in Fuji Media to over 20% in the future" - Bunshun magazine quoting Murakami's friend, May 21