Fuji Television and the Japanese media industry are currently at a significant turning point. Amidst scandals and management issues, Fuji Television’s stock price and the industry’s overall trajectory have drawn considerable attention. This article analyzes the current state of Fuji Television, the possibility of bankruptcy, potential acquisition movements, and the overall state of media ethics.
The Current State of Fuji Television – Who’s Supporting the Stock Price?
Fuji Media Holdings (hereafter referred to as Fuji Television) has been under intense scrutiny due to recent scandals and management problems. Following a controversy involving Masahiro Nakai, its stock price temporarily plummeted. However, it later stabilized and has been maintaining high levels since.
Fuji HD’s Stock Price
At the end of the year, the stock price was around 1,900 yen. It dropped sharply after the tabloid scandal involving Masahiro Nakai, reaching below 1,500 yen. However, a statement from Nakai halted the decline. Subsequent events, such as the behind-closed-doors press conference by the president, Nakai’s retirement, the replacement of commercials, the resignation announcement of the president, and Fuji Television’s own press conference, have unfolded. Despite these, the stock price climbed back over 2,000 yen and remains high.
Who’s Supporting the Stock Price?
The stock price is likely supported not only by individual investors but also by large institutional investors and foreign funds. Specifically, major overseas funds appear to hold a significant portion, providing stable backing. Additionally, domestic major shareholders, such as Bunka Hoso and NTT Docomo, are likely contributing through consistent buying to support management efforts.
Unstable Elements
On the other hand, short-term speculators and margin trading add instability to the market. If major funds or institutional investors engage in short-selling or exploit the volatility, the market could see a sudden increase in selling pressure. Careful monitoring of future developments is essential.
Chapter 2: No Risk of Bankruptcy, But Who’s Interested in Acquisitions?
Rumors about Fuji Television’s bankruptcy occasionally surface online, but such a scenario is highly unlikely.
Absolute Privilege
The primary reason lies in its broadcasting license, a powerful asset protected by Japan’s broadcasting law. Foreign ownership exceeding 20% of voting rights is strictly prohibited, making direct acquisition almost impossible. The value of this broadcasting license goes beyond mere market valuation, solidifying Fuji Television as a unique and indispensable entity.
Changes Without Bankruptcy
While bankruptcy is improbable, a significant drop in stock price could spur acquisition movements from domestic and foreign corporations or funds. The past attempted acquisition by Livedoor and its connection to Korean investments sparked public backlash, highlighting the sensitivities around such actions. Similar scenarios could prompt government intervention.
Many Interested Parties
Numerous entities, including domestic media giants and foreign funds, likely aim to influence Fuji Television’s management. To ensure stability in broadcasting operations, the government may need to provide capital support or deploy national funds to protect this key asset.
Chapter 3: Reflections on the Press Conference
The entertainment industry is a unique world with its own traditions and structures. It’s often said that celebrities marry “ordinary people,” but in reality, they are far from ordinary. During my past dealings with Fuji Television, I observed an atmosphere of prosperity and vibrancy, which was not a distant memory from the Showa era.
The Dark Side of the Entertainment World
Reports of misconduct by directors or producers under the guise of “coaching” occasionally surface, but they may represent just the tip of the iceberg.
As for announcers, they occupy a position close to celebrities and also serve a journalistic role. Attending dinners with politicians, sponsors, or performers is seen as a natural part of building networks, advancing careers, and transitioning to freelance work. However, any coercion or undue pressure from the company is entirely unacceptable.
The Most Successful Female Announcer
Among female announcers, Yuriko Koike, the Governor of Tokyo, stands out as one of the most successful. She started her career as an announcer for TV Tokyo and rose to prominence, even being considered for the role of Japan’s first female Prime Minister. Without delving into specific evaluations of Governor Koike, her career demonstrates the vast potential of the announcer profession.
Who Failed to Report?
During the press conference, many journalists posed questions as if they were unaware of the background, but industry insiders likely had some understanding of the situation. Just as Johnny Kitagawa’s scandal was long ignored, if the media knowingly chose not to report these issues, they share responsibility. Amid this, a journalist from a mail-order newspaper provided a much-needed reality check, offering a moment of relief.
Conclusion: Avoid Panic Selling and Stay Rational
Even if Fuji Television’s stock price experiences significant declines, maintaining a calm and rational perspective is crucial. Evaluating the market carefully and making appropriate decisions can open opportunities, such as buying when prices are undervalued for potential future gains.
This incident also serves as a turning point for reevaluating the media industry’s structure and ethics. Fuji Television and other media companies face challenges in restoring public trust, emphasizing the need for sound management and transparent reporting.
“Nakenee~”
Reflecting on the finale of “Minasan no Okage deshita,” where the comedy duo Tunnels performed the song “Nakenee,” alongside their producer, Minato Shacho, one can’t help but feel nostalgic for a time of dynamism and growth. Hearing the altered lyrics today invokes mixed emotions.
This issue transcends a single company’s problems, symbolizing a critical step toward restructuring Japan’s television industry. It also highlights the need for accurate coexistence between freelance journalists and traditional media.
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