A lawyer appointed by the shareholders over Toshiba's response to "shareholders who say things" concluded in a report released on the 10th that the operation of the shareholders' meeting in July last year was not fair.
Toshiba is planning an annual general meeting of shareholders on the 25th of this month, and is urgently considering how to respond.
At Toshiba's general meeting of shareholders held in July last year, the investment fund "Effissimo Capital Management", the largest shareholder known as the so-called "shareholder who says things," proposed the personnel matters of outside directors that he had selected. It was rejected.
A lawyer appointed by shareholders released a report on the general meeting on the 10th, concluding that the general meeting was not run fairly.
Toshiba, which handles nuclear power plants, is an important company for Japan's security, and foreign investors' investment is regulated by the revised Foreign Exchange Law, but in the report, the company interferes with Effissimo's proposal. He pointed out that in close cooperation with the Ministry of Economy, Trade and Industry, it had an unfair impact on some shareholders against the background of authority under the revised Foreign Exchange Law.
Attorney Takao Nakamura, who conducted the investigation, said at an online press conference on the night of the 10th, "Toshiba has requested support from the Ministry of Economy, Trade and Industry and has confirmed that it was working as one to deal with shareholders."
Toshiba is planning an annual general meeting of shareholders on the 25th of this month, and will scrutinize the contents of the report and urgently consider how to respond.
The Ministry of Economy, Trade and Industry says it is checking the contents of the report.