Fuji Media , rocked by a scandal that has gripped Japan, on Thursday slashed its annual net profit forecast by two-thirds citing a sharp drop in advertising revenue.

A Japanese tabloid that broke the news about alleged sexual harassment by a prominent TV host involving Fuji Media Holdings Inc, triggering a public outcry and spooking advertisers, has corrected a part of its story.

The impact of Fuji Television Network Inc.'s loss of advertisers over a scandal between a woman and former TV personality Masahiro Nakai has

Leading Japanese media company accused of mishandling incident involving Masahiro Nakai and unidentified woman

Fuji Media's Chairman Shuji Kanoh and TV unit head Koichi Minato have resigned amid a sexual misconduct investigation involving Masahiro Nakai, a former boy band leader and TV host. The scandal has led to advertisers leaving and demands for management changes,

Trading volume in Fuji Media Holdings Inc. shares surged 1,767% this week as a scandal prompted some investors to flee, while others piled in hoping the turmoil will usher in a management overhaul.

The president and chairperson are out after complaints of a lack of transparency surrounding Masahiro Nakai in Japan

Japanese magazines accused Masahiro Nakai, a TV host and leader of the former boy band SMAP, of sexual misconduct. Nakai has worked for Fuji TV and other broadcasters

The president and chairperson of Japanese network Fuji Television have resigned over a widening sex assault scandal linked to one of Japan's top TV celebrities. The allegations surfaced in magazine articles in December and have since triggered claims of systematic cover-ups by Fuji TV executives.