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.

TOKYO (Reuters) - Japan's Fuji Media said on Monday that Chairman Shuji Kanoh and television unit executive Koichi Minato would step down amidst a probe into alleged sexual misconduct.

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