Japan Minister Vows Thorough Probe into Fuji Media Scandal
Tokyo, April 6 (Jiji Press)--Japanese communications minister Ryota Takeda said Tuesday that his ministry will conduct a thorough investigation into Fuji Media Holdings Inc. <4676> over its suspected violation of a foreign ownership rule under the broadcasting law in the past.
"We'll take appropriate steps after thoroughly examining the issue on the basis of the results of the investigation," Takeda told a press conference.
Takeda also said that the ministry plans to ask all certified broadcasting holding companies and broadcasters to confirm whether they are complying with the foreign ownership rule.
Fuji Media, which has Fuji Television Network Inc. and other broadcasters under its wing, said Monday that it made errors in counting voting rights between 2012 and 2014. It may have breached the foreign ownership rule as a result.
A certified broadcasting holding company, Fuji Media is allowed to have more than one terrestrial broadcaster subsidiary. The rule stipulates that the certification is not granted to a company if 20 pct or more of its voting rights are owned by foreigners.
[Copyright The Jiji Press, Ltd.]