Fuji Media Reported Foreign Ownership Rule Breach in 2014
Tokyo, April 8 (Jiji Press)--Japan's Fuji Media Holdings Inc. <4676> said Thursday that it had reported to the communications ministry in 2014 its violation of a foreign ownership rule.
The company, whose subsidiaries include Fuji Television Network Inc. and other broadcasters, had been in violation of the rule under the broadcasting law between the end of September 2012 and the end of March 2014.
Fuji Media President Osamu Kanemitsu told a press conference that his company had verbally reported the violation to the ministry in December 2014 and received a strict warning.
"We apologize to shareholders, investors and many other people for causing concerns," Kanemitsu said at the beginning of the press conference.
The media group earlier said that it may have breached the foreign ownership rule during the same period.