Fuji TV Cancels New Share Issue Registration

By Kyodo News International, Tokyo

Apr. 27–TOKYO — Fuji Television Network Inc. said Thursday it has cancelled the registration of new share issues worth up to 50 billion yen as the need to flexibly offer new shares has subsided.

Fuji TV made the registration with the Finance Ministry’s Kanto Local Finance Bureau in March last year to issue new shares under the registered ceiling when necessary to discourage a hostile takeover by another company.

The move stemmed from Fuji TV’s battle with Livedoor Co. to gain control over radio broadcaster Nippon Broadcasting System Inc., which was eventually absorbed by the TV network early this month.

Meanwhile, some 573,700 Fuji TV shares, or more than 19 percent of all outstanding shares, held by an asset management company of Nippon Broadcasting, will be retired May 16, the TV broadcaster said.

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