In its third-letter to the Board of Directors of Fuji Media Holdings (“FMH”), Dalton Investments’ affiliate, Rising Sun Management (“RSM”) has requested the implementation of the following: 1) The resignation of Hisashi Hieda as Director of both FMH and Fuji TV; 2) A majority of independent directors and the establishment of a Nomination Committee, an Audit Committee, and a Compensation Committee; and 3) The Boards’ openness to listening to the demands of its key stakeholders, including employees, shareholders, sponsors, and viewers.
