Fuji Media Shares Jump on Activist Nomura’s Threat to Take 33.3%

Fuji Media Holdings Inc.’s shares surged the most in three months after activist investor Aya Nomura ratcheted up pressure on the influential broadcaster with a warning that she’s prepared to gain control over one-third of its voting rights.

The daughter of Japan’s most famous and controversial investor, Yoshiaki Murakami, Nomura and vehicles linked to her now hold more than 42 million shares of Fuji Media and plan to buy as many as 25 million more, if Fuji Media fails to take steps to spin off or sell its real estate operations, the company said the previous day. Nomura also demands that Fuji Media set a minimum dividend-on-equity ratio of 4%, it said.