Fuji TV’s parent company secured majority approval for its proposed board of directors in a closely watched shareholders meeting on Wednesday, with a major investment fund’s proposal for drastic change voted down.
With two proposals for board members tabled at the meeting, the focus was on which the shareholders would vote for and how much support there was for the proposal of activist Dalton Investments, which reportedly holds 7.5% of shares in Fuji Media Holdings.
All five of the proposals that the company put forth at the meeting, including ones regarding the new board members, were accepted.
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