Japan's communications minister Takeda Ryota has ordered a thorough investigation into the suspected violation of foreign investment regulations by one of the country's major media companies.
Fuji Media Holdings, the parent company of broadcaster Fuji Television Network, revealed that foreign firms may have held 20 percent or more of its voting rights from 2012 to 2014. Japan's broadcast law limits foreign voting rights to under 20 percent.
Takeda told reporters on Tuesday that it is important to identify the facts and that the ministry will deal with the matter appropriately based on the results of the investigation.
He said he does not want to comment on whether Fuji Media will have its license as a broadcasting holding company revoked. He said that he has not yet obtained the full details of what had actually happened.
Takeda added that he also plans to inquire with other Japanese broadcasting companies about whether they are complying with the foreign investment rules.