Toshiba's largest shareholder Effissimo demands stronger governance

Politics Economy

Toshiba Corp.'s biggest shareholder Effissimo Capital Management Pte Ltd. on Thursday called on the management to improve its governance that is now "dysfunctional," after an independent probe found the Japanese conglomerate's collusion with the government in influencing foreign activist investors. In its first public statement since a group of lawyers concluded earlier this month that Toshiba's general shareholders' meeting last year was not conducted fairly, Singapore-based activist fund Effissimo said it is alarmed that the very foundation on which a joint stock company rests has been compr...

Kyodo News

Kyodo News