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Four Toshiba Corp directors called on Friday for a shake-up of its management and board, in a sign of revolt after an investigation found the conglomerate colluded with the Japanese government to "beat up" foreign shareholders. The very public push-back by the independent directors, all non-Japanese, is the latest twistȂ...
The public pushback by the independent directors, all non-Japanese, shows how the old guard of Japan Inc. can no longer exert full control over shareholders.
Japan's influential trade ministry colluded with Toshiba Corp's (6502.T) management to unduly influence a key shareholder vote last year, the report of an independent probe released on Thursday found. L2N2NS0EL
Apr 8, 2021 The surprise takeover bid for Toshiba Corp. is a palpable demonstration of the growing influence in corporate Japan of activist investors, who have gone from largely impotent onlookers to kingmakers in the space of just a few years. The offer from CVC Capital Partners, while still in the early stages, comes just weeks after Toshiba Chief Executive Officer Nobuaki Kurumatani lost a landmark shareholder vote, forcing an independent investigation into alleged issues with voting at its annual general meeting last year. That loss has piled pressure on Kurumatani, who barely wo...
Norway SWF and CalPERS Vote in Favor to Probe Toshiba Posted on 03/15/2021 California Public Employees’ Retirement System (CalPERS) and Norges Bank Investment Management (NBIM), which oversees Norway Government Pension Fund Global, voted in favor of a proposal pushed by Singapore-based Effissimo Capital Management. The proposal is for an independent probe into the Japanese conglomerate Toshiba Corporation. Effissimo Capital Management holds a 9.9% stake in Toshiba and remains its largest shareholder. CalPERS owns around 0.45% of Toshiba and NBIM has 1.32% ownership. Effissimo Capital Manage...