Fuji Media Holdings, the parent company of Fuji TV, is anticipating a consolidated net loss of ¥20.1 billion for the fiscal year 2024, which concluded in March. This marks the first net loss since the company transitioned into a holding company structure in 2008. The financial downturn is attributed to a sex abuse scandal that has led to sponsors withdrawing their commercial support.
On Wednesday, the company revised its previous projections, downgrading from an expected net profit of ¥9.8 billion for the fiscal year. This adjustment is primarily due to impairment losses of ¥26 billion on Fuji TV's fixed assets.
Furthermore, the company has announced leadership changes. President Osamu Kanemitsu, who was scheduled for approval at the June shareholders’ meeting, will be stepping down. In addition to the president's departure, three external directors on the board will also resign.
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