Tokyo Broadcasting System Inc. President Hiroshi Inoue expressed displeasure Wednesday with Rakuten Inc. for floating the idea of raising its stake in the broadcaster to above 20 percent.
"Frankly speaking, I wasn't happy," Inoue said in Tokyo, pointing out that Rakuten came up with the latest plan without holding prior consultations with the broadcaster.
Inoue's remarks came after Rakuten, Japan's top online shopping mall operator, told TBS last Thursday that it will seek to raise its group holding of 19.86 percent in the broadcaster to "a little more than 20 percent."
Inoue was speaking at his first news conference since Rakuten announced the plan.
Tieup negotiations between the two companies, which began 17 months ago, are currently stalled.