Yoshitaka Kitao—well known for his enduring support of Ripple and its digital asset XRP—has been named by Dalton Investments as a candidate for the board of directors at Fuji Media Holdings, Japan’s largest media conglomerate. The proposal, first reported by Nikkei, surfaced amid ongoing efforts by the US-based activist investor to address what it deems as governance shortcomings at Fuji Media. “The activist investor, which holds a significant stake in the media giant, has previously voiced dissatisfaction with the company’s governance,” the Nikkei report notes.
XRP Supporter Kitao Joins Fuji Media
Kitao’s deep-rooted connections to Ripple can be traced back several years through SBI Holdings, the financial services powerhouse he helms as Chairman & President. Under Kitao’s guidance, SBI became a strategic partner of the San Francisco-headquartered blockchain firm, launching initiatives such as SBI Ripple Asia to spearhead the adoption of XRP across the Japanese banking sector.
Over the past years, Kitao often championed XRP’s capacity for “cutting-edge cross-border remittances,” once describing Ripple’s technology as “the next standard for international money transfers.”
In 2019, he formalized his commitment to Ripple by accepting a position on its board of directors—an appointment that underscored his alignment with the firm’s ambition to modernize global payment rails. Though he stepped away from that directorship after two years, his advocacy for XRP endured. One of his recent social media posts emphasized the significance of RLUSD.
Fuji Media Holdings, meanwhile, has found itself in a precarious position after a string of governance controversies. Earlier this year, it orchestrated a sweeping executive overhaul meant to restore shareholder confidence and stabilize its operations. Chairman Shuji Kanoh departed the company, followed closely by the resignation of Fuji TV head Koichi Minato.
The board subsequently reduced its membership to 10 directors, a move widely interpreted as a bid to tighten oversight and accountability. Hisashi Hieda, the conglomerate’s 87-year-old director, stepped down in March, adding to the sense of a thorough housecleaning at one of Japan’s most influential media giants.
The Fuji Media empire, best known for its flagship Fuji TV network, holds a commanding presence in Japan’s entertainment sector through the production of dramas, variety shows, anime, and an array of digital media offerings. Its content enjoys near-ubiquitous recognition among Japanese audiences.
Unlike Fujifilm, the camera and imaging firm that shares a similar name but operates a completely different business, Fuji Media has carved out a unique place in broadcasting and streaming platforms, contributing substantially to Japan’s cultural narrative.
Against this backdrop, Dalton Investments’ push to see Kitao join the board has opened up questions about whether the seasoned financier’s fintech and XRP insights might steer Fuji Media toward new forms of innovation—or at least provide it with a measure of stability at a time when media companies are under increasing pressure to diversify revenue streams.
At press time, XRP traded at $2.15.
Featured image created with DALL.E, chart from TradingView.com
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