Fuji Media Keeps Real Estate Spinoff in Play as Activists Circle

Fuji Media Holdings Inc.’s incoming president said “all options” regarding its real estate operations remain on the table, including a possible spinoff along the lines of activist investor demands.

The Japanese entertainment group last month rejected a shareholder proposal from Dalton Investments calling for a different slate of directors as well as a spin-out of the lucrative real estate arm. But the company has yet to finalize its long-term strategy, Kenji Shimizu said in an interview Monday.