Fuji Media Unveils Big Share Buyback to Push Out Activist

Fuji Media Holdings Inc. has unveiled a massive share buyback plan to repel activist investor Yoshiaki Murakami, effectively ending one of Japan’s most high-profile corporate battles in recent years.

Under the plan, Fuji Media will repurchase up to ¥235 billion ($1.5 billion) of its own shares. The Murakami-led entities have indicated their intention to sell their entire stake in the broadcaster, Fuji said.