Two directors and two supervisory directors who were reappointed last year at the Japanese technology and electronics group Toshiba will leave.


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The news comes after it emerged earlier today that a major shareholder of Toshiba demanded the resignation of four Toshiba executives after the release of a revealing report.

This week, investigations showed the Japanese company's top executives colluded with the Japanese government to keep activist foreign investors out.

Toshiba's board and officials are said to have put pressure on shareholders during a shareholder vote last year.

The Japanese wanted to prevent three activist candidates from Singapore-based investor Effissimo from getting enough votes to join the company's board.

Japanese Prime Minister Yoshihide Suga, then in another government position, is said to have verbally encouraged the practice in a meeting with a senior Toshiba executive.

Suga denies that accusation.

Toshiba is of strategic importance to Tokyo as a maker of nuclear reactors and defense equipment.

The three candidates from Singapore's Effissimo (Toshiba's largest shareholder, which owns nearly 10 percent of the shares) were ultimately not chosen.

According to the researchers, Toshiba most likely broke the rules with the influence.

The investigation was enforced by shareholders.

In a letter addressed to the top of the company, major shareholder 3D Investment Partners demanded the departure of four key directors.

It is not known whether these are the same top men whose departure has now been announced.

3D Investment Partners owns about 7 percent of the shares.

The disclosures are "deeply disturbing and represent one of the most shocking failures of corporate governance anywhere in the world in the past decade," the letter said.