Fuji TV Shares Fall Most in 7 Years After 1st-Half Profit Drop
Fuji Television Network Inc., Japan's biggest broadcaster by sales, fell the most in almost seven years on the Tokyo exchange after profit declined more than expected on costs to build new studios.
The Tokyo-based broadcaster's shares dropped 260,000 yen, or 11 percent, to 208,000 yen as of 9:51 a.m., the biggest decline since Dec. 21, 2000.
Net income for the six months ended Sept. 30 was about 10.4 billion yen ($90 million), compared with 15.2 billion yen a year earlier, Fuji Television said yesterday in a statement distributed at the Tokyo Stock Exchange. ( Bloomberg )