Toshiba board chair admits governance issues over gov't collusion

Politics Economy

Japanese industrial conglomerate Toshiba Corp.'s attempts to fend off foreign activist investors in cooperation with the government ahead of a general shareholders' meeting last year were problematic in terms of compliance and governance, the head of the board said Monday. Osamu Nagayama, chairman of Toshiba's board of directors, apologized to people concerned, including shareholders, after a probe by lawyers revealed last week that Toshiba sought government help in blocking proposals by foreign activist investors. Nagayama said former CEO Nobuaki Kurumatani is responsible for having caused co...

Kyodo News

Kyodo News