Fuji Media Holdings posts net loss for first time since going public

The parent company of Fuji TV, which has faced multiple scandals since the start of the year, reported a net loss of ¥20.1 billion for its fiscal year ending March after struggling sales due to commercial pullouts. The company admitted a sharp decline in profit amid internal issues linked to a probe into former TV star Masahiro Nakai's misconduct, initially projected as a ¥29 billion gain but later revealed as a net loss. This marks the first net loss since 1997 and underscores the financial impact of the scandals.