Regarding Toshiba's plan to divide the company into three, it is said that the asset management company of major shareholders should proceed with the plan after clearing the strict requirement to obtain more than two-thirds of the approval at the general meeting of shareholders. We have issued a statement.
Last year, Toshiba announced a plan to split the company into three with the aim of increasing corporate value, and said that it would hold an extraordinary general meeting of shareholders by March to confirm the intentions of shareholders. The conditions have not been disclosed.
Under these circumstances, Farallon Capital Management, a foreign-affiliated asset management company with major shareholders, which is believed to hold about 5% of Toshiba's shares, received more than two-thirds of the approval at the general meeting of shareholders, and after that, We have issued a statement that the plan should proceed.
Proposals submitted by companies to general meetings of shareholders are often approved and approved by a majority of the votes, and important proposals such as mergers have more stringent requirements and require at least two-thirds of the approval in principle.
The asset management company argues that Toshiba needs to get a lot of support so as not to damage the relationship of trust with its shareholders.
Regarding this statement, Toshiba commented, "The date and agenda for the general meeting of shareholders have not been decided at this time."
Regarding Toshiba's plan, another major shareholder based in Singapore also needs more than two-thirds of the shareholders' approval and should withdraw the plan if there is a lot of opposition.
It is unclear whether the company will be able to proceed with the plan as planned, with the strict conditions imposed by shareholders one after another.