Business / Corporate Jun 14, 2021
Toshiba apologizes to shareholders after probe showed firm influenced vote
An independent investigation found that Toshiba had sought government help when seeking to install its slate of directors.
Business / Corporate Jun 14, 2021
Toshiba to drop two board members as shareholders demand action
by Takashi Mochizuki and Scott Deveau
An advisory firm has recommended voting against five board members, including the dropped pair, after a probe found the firm colluded with the government to fix a key shareholder vote.
Business / Corporate Jun 13, 2021
Toshiba's No. 2 shareholder calls for resignation of board chair and three directors
by Makiko Yamazaki
The demand comes after an investigation found the company had colluded with the government to pressure foreign investors.
Business / Corporate | FOCUS Jun 12, 2021
In revolt, four directors call for Toshiba shake-up after explosive probe
by Makiko Yamazaki
The public pushback by the independent directors, all non-Japanese, shows how the old guard of Japan Inc. can no longer exert full control over shareholders.
Business / Corporate Jun 10, 2021
Toshiba sought ministry help to swing key vote, probe finds
by Gearoid Reidy and Min Jeong Lee
Toshiba sought government help in an attempt to influence a key shareholder vote that installed its slate of directors, a probe has found in a vindication for investor activism in Japan.
Business / Corporate Jun 1, 2021
Toshiba and 10 other Japanese firms to form quantum tech tie-up
Quantum computers have much higher computing capabilities than conventional computers, while quantum cryptography theoretically makes wiretapping impossible.
Business / Corporate May 24, 2021
In taking on Toshiba, secretive hedge fund Effissimo ended years of silence
by Min Jeong Lee, Shoko Oda and Takako Taniguchi
"All Toshiba had to do was agree to an independent investigation,” said an expert on corporate governance in Japan. "But for some reason, they refused.”
Business / Corporate May 17, 2021
Toshiba opens strategic review, giving $1.4 billion to investors
The move comes after weeks of takeover discussions sparked by private equity firm CVC Capital Partners’ $21 billion acquisition bid.
Business / Corporate May 14, 2021
Toshiba unit in Europe hit with ransomware; group to undergo strategic review
by Makiko Yamazaki and Benoit Van Overstraeten
The attack, by the same hacking group said to be involved in the Colonial Pipeline attack, overshadowed an upbeat profit forecast and a strategic review announcement.
Business / Corporate Apr 26, 2021
Toshiba investor 3D calls for strategic review after CVC bid
by Scott Deveau and Aaron Kirchfeld
The investment firm said it was disappointed Toshiba’s chairman didn’t respond to a previous request to run a review.
Business / Corporate Apr 23, 2021
Toshiba struggling to devise growth strategy after CVC pullout
Toshiba sold many successful units during a business crisis caused by massive accounting fraud and the collapse of a U.S. nuclear power subsidiary.