Latest Breaking News On - ஒன்றுபட்டது முதல் கூட்டாளர்கள் - Page 6 : vimarsana.com
Toshiba shareholders oust chairman in rare victory
taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
Toshiba shareholders oust chairman, in shake-up for Japan Inc - Netscape Money & Business
netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.
Toshiba shareholders remove chairman in shake-up for Japan Inc
india.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india.com Daily Mail and Mail on Sunday newspapers.
Jun 10, 2021
Toshiba Corp. sought government help in an attempt to influence a key shareholder vote that installed its slate of directors, an independent probe has found in a vindication for investor activism in Japan.
The voting, which went against nominees put up by Singapore-based Effissimo Capital Management, wasn’t fairly managed, according to the results of an investigation by several law firms that Toshiba shared. The Japanese electronics-to-energy conglomerate “devised a plan to effectively prevent shareholders” from exercising their rights, working with the trade ministry to counter activist investors.
The firm exerted pressure on 3D Investment Partners, now its third-largest shareholder, which impacted its voting decisions, and worked to exert influence over how Harvard University’s endowment fund would vote. As a result, “the AGM was not fairly managed,” the 139-page report overseen by three lawyers concluded.
May 24, 2021
It was the rarest of public appearances. At Toshiba Corp.’s extraordinary general meeting in March, a lawyer, who didn’t give his name, talked for four minutes about why shareholders’ rights should never be infringed.
He was speaking on behalf of Effissimo Capital Management Pte, a secretive hedge fund that had avoided the spotlight for almost 15 years. Now it was coming out into the open, if only slightly, to spearhead a campaign to bring change at the conglomerate and, by extension, corporate Japan.
Effissimo’s victory over Toshiba’s management in that March 18 shareholder vote was a landmark moment both for Japan Inc. and the hedge fund, whose guarded actions have long been the subject of intrigue.