Yoshitaka Kitao, an enthusiastic supporter of Ripple and its cryptocurrency XRP, has been proposed by Dalton Investments to join Fuji Media Holdings – Japan’s top media conglomerate – as a board member. Dalton Investments’ proposal stems from their intent to address what they perceive to be governance issues within Fuji Media Holdings.
Kitao’s Involvement with Fuji Media
Back in 2019, Kitao made his pledge of support clear when he joined Ripple’s board of directors – an act that aligned perfectly with their mission of overhauling global payment infrastructures. Although he left after two years, Kitao continued his support of XRP despite exiting its board – emphasizing its value over other cryptocurrencies through recent communications about it, particularly noting RLUSD.
Fuji Media Holdings, on the other hand, has been struggling to recover following a string of governance scandals. An extensive executive shake-up this year as part of its attempt to rebuild investor trust and ensure operational stability was implemented to restore investor confidence and ensure stability within operations. Key figures left and board membership reduced – signalling an effort at strengthening oversight oversight oversight oversight oversight oversight oversight oversight oversight
Fuji Media stands as an influential force in Japan’s entertainment sector, producing content ranging from dramas and variety shows to anime. Their impact can be felt across both broadcasting and streaming platforms and has made an indelible mark on Japan’s cultural landscape.
Dalton Investments’ appointment of Kitao to Fuji Media’s board has raised speculation regarding their potential incorporation of fintech and cryptocurrency expertise into this media conglomerate. Such an appointment could create opportunities for innovative ventures or at the very least provide some stability amid media firms’ difficulties in diversifying revenue sources.
As of the most recent update, XRP was trading at $2.15.
