Japan Not to Revoke Fuji Media Certification
Tokyo, April 9 (Jiji Press)--The Japanese government "cannot revoke" Fuji Media Holdings Inc.'s <4676> certification as a broadcasting holding company despite the company's past violation of a foreign ownership rule under the broadcasting law, communications minister Ryota Takeda said Friday.
Takeda also said that his ministry plans to enhance screenings on the foreign ownership rule in order to prevent a recurrence.
The broadcasting law stipulates that the certification must be revoked if 20 pct or more of a certified company's voting rights are held by foreigners.
Fuji Media's foreign ownership share exceeded the 20 pct threshold between September 2012 and March 2014. The figure, however, has been below 20 pct since September 2014.
On Friday, Takeda admitted that the then chief of the ministry's Broadcasting Policy Division was informed of the violation by Fuji Media in December 2014.
[Copyright The Jiji Press, Ltd.]