Fuji Media Mulls Sale of Real Estate Business

Tokyo, Feb. 3 (Jiji Press)--Japan's Fuji Media Holdings Inc. said Tuesday that it will begin considering plans to introduce outside capital into its real estate business.

The parent company of Fuji Television Network Inc. said it will not exclude "the possibility of a complete sale of the business."

Following the announcement, a group including an investment fund linked to Japanese activist investor Yoshiaki Murakami said it will withdraw its plan to increase its stake in Fuji Media up to 33.3 pct through a tender offer.

Fuji Media plans to buy back its own shares worth up to 235 billion yen, including those held by Murakami's side.

Murakami's side had been increasing pressure on Fuji Media since last year by buying more shares and demanding the separation of the real estate business.

[Copyright The Jiji Press, Ltd.]