Tokyo Broadcasting System Inc. announced Wednesday that it will issue 20.6 billion yen in new shares to major ad agency Dentsu Inc. and several of its other business partners to raise money for new projects.
The television broadcaster also said it will invest 10 billion yen in eAccess Ltd.'s mobile phone business as part of efforts to build its presence in the nation's wireless network, which is rapidly gaining influence as a media outlet.
TBS will issue 9.92 million new shares, or some 5.5 percent of all its outstanding shares, to Dentsu, Bic Camera Co., Mitsui & Co. and Mainichi Broadcasting System Inc.