Trading volume in Fuji Media Holdings shares surged 1,767% this week as a scandal prompted some investors to flee, while others piled in hoping the turmoil will usher in a management overhaul.
A total of 237.8 million shares changed hands in Tokyo, compared with 12.74 million last week, according to data compiled by Bloomberg. That’s 56% more than the volume for all of 2024.
The stock jumped 13% this week as some investors speculated the incident will prompt the company to replace management, improve governance and boost corporate value. Local weekly Shukan Bunshun reported in December that Fuji TV employees were involved in setting up a party at which sexual harassment took place, an allegation the company has denied.
