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Toshiba appoints committee to examine shareholder issues

Toshiba appoints committee to examine shareholder issues

FILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO :Toshiba Corp will appoint a governance enhancement committee to analyse the root cause of issues around its alleged pressure on foreign shareholders, the Japanese industrial conglomerate said on Friday.

An explosive independent investigation https://www.reuters.com/world/asia-pacific/independent-probe-says-toshiba-agm-last-year-was-not-fairly-managed-2021-06-10 in June found Toshiba colluded with the trade ministry to block foreign shareholders from gaining influence at last year's annual general meeting.

Toshiba said the committee will analyse the root cause, clarify responsibilities and make suggestions for prevention measures - steps it pledged following the shareholder-commissioned report.

It is "not intended to re-investigate" the investigation's findings, Toshiba said.

The new committee, which is expected to submit a final report in October, will consist of five legal experts, including a Toshiba board director and one of three attorneys who conducted the earlier investigation.

(Reporting by Makiko Yamazaki; editing by David Goodman and Jason Neely)

Source: Reuters

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