Dalton pressures Fuji Media for reforms in Japan

Dalton Investments is seeking negotiations with Fuji Media Holdings to avoid a proxy fight, aiming to influence the broadcaster's board and business strategy. The activist investor, Dalton, wants Fuji Media to spin off its real estate business and implement corporate governance reforms. Dalton has proposed 12 board candidates, including SBI Holdings' Chairman, and hopes to negotiate with Fuji TV's president before Friday's earnings report. Fuji Media faces scrutiny over a sexual assault scandal and has seen advertisers leave, prompting board changes. Dalton and other investors believe the changes are insufficient to address the company's accountability issues.