TV Asahi to list stock

Earnings to fund digital b'cast center, headquarters building

TOKYO — Japanese network TV Asahi plans to end its status as the only major Web not traded on the Tokyo Stock Exchange by listing its shares Oct. 3.

TV Asahi, Japan’s No. 4 network, will use the proceeds from the listing to help finance a digital broadcast center and a headquarters building, said its president Michisada Hirose.

Analysts greeted the news of the new listing warmly as the stocks of rivals Fuji TV, NTV and TBS have posted steady gains over the past year.

TV Asahi’s main shareholder is the major daily newspaper Asahi Shimbun. Other significant shareholders include movie company Toei, publisher Shogakukan and Dai Nippon Printing.

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