Toshiba rejects shareholder proposal by “shareholders who say things” July 14 14:14
The shareholders' meeting of Toshiba was held, and the fund of the largest shareholder known as a "speaking shareholder" received a shareholder proposal asking for the election of a director of their choice, but it was rejected.
In this general meeting, the fund of the largest shareholder known as "a shareholder who speaks", "Effissimo Capital Management", etc. will increase the number of outside directors selected by themselves, based on the discovery of a fictitious transaction at a Toshiba subsidiary. We made two shareholder proposals we asked for.
Since the company side was opposed to the shareholder proposal, attention was paid to the future of the vote, but all shareholder proposals were rejected, and the election of directors as approved by the company was approved.
As a result, Chairman Yoshimitsu Kobayashi of Mitsubishi Chemical Holdings, who has chaired the Board of Directors as an outside director, retired, and Chugai Pharmaceutical's Honorary Chairman Osamu Nagayama was elected.
However, at the general meeting, it seems that the fund's proposal for shareholders was received to a certain extent, and for Toshiba, which is in the process of rebuilding its management, how to talk with shareholders who talk about it will continue to be an issue.