Much Ado About Japan

The relationship between Lehman Brothers and Japan is indeed old. In Russo-Japan war, that company accepted Japan's war bond and indirectly supported Japan. Now their subsidiary in Japan is located at the midst of Tokyo foreign business district, Roppongi Hills.
They issued $800 million CB( convertible bond ) which can be convertible to stocks to buy stocks of one of media giants, Fuji TV group. Now Lehman Brother's share is 40%. Fuji TV group owns 25% of their stocks themselves.
Then abruptly Fuji TV announced issuing 47.2 million new stocks, which is amazingly enormous. Because current stocks are 32.8 million stocks. Indeed they intend to issue 1.4 times as large as current stocks.
Their attempt to issue new stocks such a large scale is unlawful and agaist market principle, actually lots of other ordinary stockholders will suffer a lot. Their poison pill had to be written down in their company terms so that anyone could see, but of course there were no such terms found in their terms, besides in the case of issuing lots of new stocks, those who accept their new stocks must be the third party, but actually the group themselves accept their new stocks, their white knights are indeed themselves. Indeed unhealthy.
Such measures as issuing new stocks as a counter measure to protect control over the company management ought not to be allowed. The face value of stocks will be downward, and invite further downfall of corporate management, governance, overall moral hazard in addition, many many bad impact on normal transaction of stock dealers. These are out of the question.
We are not still sure how Tokyo District Court will judge, but if admitted, it would mean nothing but the end of healthy capitalism. It will be a dangerous current to a total downfall of overall economy.
Indeed another fund which holds 10%-15% share of Fuji TV criticised this movement of new stock issue as ignoring the interest of other invester, yes, they are right.
I hope Lehman Brothers will play a decisive role over the issue, I expect that.