Fuji Media rejects Dalton call to replace board, setting up proxy fight

SBI CEO slams scandal-rocked company, saying it 'doesn't have guts' to accept him

Kenji Shimizu, Fuji Media Holdings' next president, answers questions from reporters on May 16. (Photo by Tomoki Mera)

KAZUHIRO NOGUCHI, ANNU NISHIOKA and NATSUKI YAMAMOTO

May 17, 2025 04:57 JST

TOKYO -- Fuji Media Holdings will oppose a proposal by U.S. activist investor Dalton Investments to replace its entire board, the Japanese company said Friday, setting the stage for a proxy fight heading into the annual general shareholders meeting on June 25.

"We seriously considered all of the director candidates proposed by the company and the shareholders," said Kenji Shimizu, who will become the company's next president in June.