Dalton connects with activist investor-linked fund to pressure Fuji Media

Investors, including Dalton Investments, are urging Japanese broadcaster Fuji Media Holdings to split off its real estate division, seen as a test of how shareholders influence companies in Japan. Co-founder James Rosenwald has discussed this plan with Aya Nomura, the company's largest outside shareholder and Fuji Media's former board chair, raising concerns that such a move could bolster the property unit's value. Earlier, Fuji Media rejected Dalton’s offer to add directors and asked it to reduce cross-shareholdings but emphasized its commitment to continuing real estate investments, which it believes will drive further growth despite the pressure.