The news conference also came after an American shareholder, an investment company called Dalton Investments, sent a letter to Fuji TV’s management harshly criticizing the company’s failure to react to — much less fix — its problems.
The situation with Mr. Nakai “reflects not only a problem in the entertainment industry generally, but, specifically, it exposes serious flaws in your corporate governance,” the letter said. “The lack of consistency and, importantly, transparency in both reporting the facts and the subsequent unforgivable shortcomings in your response merit serious condemnation.”
The day after Fuji TV’s news conference, big Japanese companies began announcing that they were pulling their ads.
On Thursday, Fuji TV’s parent company, Fuji Media Holdings, weighed in. The president, Osamu Kanemitsu, said that it was “imperative that we regain the trust of our employees, sponsors and viewers.” He announced that the company’s board had decided in an emergency meeting to establish an independent committee to examine Fuji TV’s response.
“It took time for the realization to spread that they cannot look the other way,” said Mr. Honma, the advertising and media critic. “When big customers start to leave, it brings action.”
