Toshiba Corp.'s second-biggest shareholder on Sunday demanded the board chairman and three other directors immediately resign after an investigation found the company had colluded with the government to pressure foreign investors.
The letter, seen by Reuters, is from 3D Investment Partners, which owns a 7.2% stake in Toshiba. It was sent to the four on Sunday, according to people with direct knowledge of the process.
It is likely to heighten scrutiny into governance at Toshiba, a renowned industrial conglomerate in crisis sparked by Thursday's report. The shareholder-commissioned report marked an explosive turn in a long battle between the company's management and foreign shareholders.