Japan's biggest broadcaster Fuji TV is conducting a stock issue to fund a new digital studio.

The group is releasing 180,000 new shares (about 17% of the total), with an option permitting the sale of 20,000 more. It hopes to raise ¥106.4 billion ($1.0bn; €0.8bn; £0.5bn) as a result.

Simultaneously, radio firm Nippon Broadcasting -- the biggest shareholder in Fuji TV -- plans to reduce its stake from 32.2% to 25%, making ¥31.6bn in the process.

The two companies will jointly invest in a digital studio in Tokyo. Nippon will pay around ¥18bn of the ¥58bn cost, with Fuji TV picking up the rest.

Some shareholders are unhappy at the scale of Fuji TV's issue, arguing a smaller share sale would have been sufficient to fund the digital venture. Investors such as US fund Southeastern Asset Management -- which holds over 13% of Nippon -- have criticised the close links between the two firms.

Data sourced from: Financial Times; additional content by WARC staff