Today, I would like to reflect on the management challenges surrounding Fuji Television. This issue, which has been a topic of recent media coverage, is not merely a matter of trouble but one that influences the governance of the entire company.
In this case, criticism was directed at the lack of independence in the investigative committee and the press conference that only allowed certain media outlets to attend. Consequently, sponsors began pulling their commercials one after another. This situation highlights the broader challenges of “transparency and trustworthiness” that Japanese companies as a whole are grappling with.
I have long felt the importance of “establishing the prerequisites for dialogue.” In this instance, the management’s lack of transparency severely undermined trust with sponsors and shareholders. This could pose a critical risk for companies in the modern era.
Fuji Television’s parent company, Fuji Media Holdings, is approaching its shareholder meeting. Gaining the trust of shareholders at this meeting will not be easy. Shareholders such as the U.S. fund Dalton Investments are paying close attention to the composition of the board of directors and corporate governance. The management must go beyond simply addressing the issue and present fundamental solutions.
To resolve these challenges, it is essential to rethink the corporate culture itself. Key measures include ensuring transparency aligned with on-the-ground realities, prioritizing dialogue in operations, and building a system to identify and resolve risks early. I firmly believe that advancing these efforts will enable companies to achieve sustainable growth.
The case of Fuji Television contains lessons that could apply to any company. Maintaining transparency and steadily building trust—this, I have come to realize, is the most critical priority for corporate management moving forward.