Minister of Economy, Trade and Industry "Waiting for Toshiba's response" "Shareholders who say things" Report of proposal veto

The House of Representatives' economy held on the 11th about the release of a report that Toshiba tried to block the proposal of the investment fund of the largest shareholder in cooperation with the Ministry of Economy, Trade and Industry before the shareholders' meeting in July last year The Industrial Committee was asked about the interaction between METI officials and Toshiba and shareholders, which was pointed out in the report as having had an unreasonable impact on some shareholders.

In response, Minister of Economy, Trade and Industry Kajiyama said, "Some of the staff's actions are categorically written, but it is not always clear on what basis they are categorically determined. Also, Toshiba. The Audit Committee's view is different from this report, and I think waiting for Toshiba's consideration is the starting point. "

What is a report?

Toshiba's general meeting of shareholders held in July last year.

Effissimo Capital Management, the investment fund of the largest shareholder known as the so-called “shareholder who says things,” proposed the appointment of an outside director of his own choosing, but it was rejected.

Was the operation of this general meeting fair?

..

At the extraordinary general meeting of shareholders in March, a lawyer proposed and appointed by Effissimo released the investigation report on the 10th.

Report “Unjustified impact on some shareholders, so to speak with the Ministry of Economy, Trade and Industry”

The report states, "Toshiba requested support from the Ministry of Economy, Trade and Industry for the so-called activist response at this Ordinary General Meeting of Shareholders, and in close cooperation with the Commerce and Information Policy Bureau route of the Ministry of Economy, Trade and Industry, there is a possibility that authority will be exercised based on the revised Foreign Exchange Law. It had an unreasonable impact on some shareholders against the background of such factors, and the route of the Commerce and Information Policy Bureau of the Ministry of Economy, Trade and Industry was integrated with the shareholder response. "

The "Revised Foreign Exchange Law" stipulates restrictions on investment by foreign investors in companies that are important for Japan's security.

The content of the report is that the Ministry of Economy, Trade and Industry "tried to curb the influence of some shareholders against the background of authority" based on this law.

"It is presumed that President Kuratani explained to Prime Minister Suga how to respond to the general meeting of shareholders."

In addition, according to the report, on May 11, before the general meeting of shareholders in July last year, then President Nobuaki Kurumatani attended a breakfast party with Prime Minister Suga, who was Chief Cabinet Secretary, and at that time, revised foreign exchange. It is presumed that he explained the response to the general meeting of shareholders based on the materials including the "position paper" that summarizes the response to "shareholders who say things" based on the law.

Regarding this, former President Kuratani implicitly admitted to attending the breakfast party to the hearing of the third-party committee, "I do not remember the position paper. I can not talk individually at the breakfast party with Mr. Suga, so I had a dinner. I can't talk before or after. "

Prime Minister Suga "I don't know at all"

In connection with this, on the night of the 10th, reporters said, "In the report, prior to the general meeting, Prime Minister Suga, who was the Chief Cabinet Secretary at that time, received an explanation from the Toshiba side and said,'If you do it forcibly, you will be caught.' "There is a statement that he commented," said Prime Minister Suga, "I don't know at all. That's not the case."

Minister of Economy, Trade and Industry Kajiyama "I want to wait for Toshiba's future response"

At a press conference after the Cabinet meeting on the 11th, Minister of Economy, Trade and Industry Kajiyama expressed his intention to wait for what kind of measures Toshiba will consider in the future.

Among them, Minister of Economy, Trade and Industry Kajiyama said, "This case is about Toshiba's governance, and Toshiba will carefully consider the contents of the survey report and disclose the response. The Ministry of Economy, Trade and Industry will first consider Toshiba's future. I would like to wait for consideration of the response. "

In the published report, Toshiba worked closely with the Ministry of Economy, Trade and Industry to prevent the appointment of outside directors proposed by the investment fund "Effissimo Capital Management" of the largest shareholder, based on the revised Foreign Exchange Law. He points out that it had an unreasonable impact on some shareholders due to their authority.

Regarding this, Minister Kajiyama said, "In general, when enforcing the Foreign Exchange Law, we may obtain information from businesses in examining the actions of shareholders who are subject to regulation from the perspective of ensuring the security of the country. I don't think the response will be an immediate issue. "

In addition, when asked if the Ministry of Economy, Trade and Industry had an idea to investigate the facts, Minister Kajiyama said, "It is possible to confirm if necessary based on Toshiba's response."

Chief Cabinet Secretary Kato "It's all about the Prime Minister's remarks."

Chief Cabinet Secretary Kato said at a press conference after the Cabinet meeting, "I know that Prime Minister Suga said yesterday,'I don't know at all. That's not the case.' I did.

After that, the reporters asked, "Is it true that President Kuratani and Prime Minister Suga had breakfast together at that time?" "Generally speaking, Prime Minister Suga talked with various people. I think it has been done, but it is not always clear about each one. "

In response to the question, "Are there any plans to conduct an investigation that refutes the report?", "Toshiba also knows that it will disclose the response after carefully considering the contents of the report. We are paying close attention to the response, and we are aware that the Ministry of Economy, Trade and Industry will take the necessary response based on this. "

Constitutional Democratic Party Chairman "What should not be the case"

The Constitutional Democratic Party's chairman, Jun Azumi, told reporters, "If it's true, it shouldn't be. If the stock market is open to the world, Prime Minister Suga was helping. That would be a very serious story. To confirm the facts, the session of the Diet was extended, a budget committee was held, and Prime Minister Suga met the president at that time, and what the Ministry of Economy, Trade and Industry did. I want to hear from you whether you tried to protect it. "