Fuji Media Shares Drop as Buyback Plan Heralds Activist Exit

Fuji Media Holdings Inc. shares plunged as much as 12% after the embattled Japanese firm announced a large share buyback plan and said entities linked to activist investor Yoshiaki Murakami indicated they would sell their stakes.

The broadcaster’s stock fell to ¥3,475 at one point in Tokyo, marking its steepest intraday decline since August 2024. The company announced it plans to repurchase up to ¥235 billion ($1.5 billion) of its own shares in a Feb. 3 release.