On May 28, 2025, Dalton Investments LLC announced that it has spoken with Aya Nomura, Fuji Media Holdings Inc's shareholder and Dalton Investments is collaborating with other investors to pressure the Company to spin off its real estate arm. In addition, Dalton Investments stated that spinning off the property unit could potentially double the Company's value, and Dalton Investments stated that proposal for 12 new directors was rejected by Company earlier this month, it is also demanding the Company to unwind cross shareholdings, and it stated that the Company plans to continue investing in real estate, which it believes will generate further growth.