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Toshiba's New Committee to Look Into Causes of Inappropriate Pressure on Foreign Shareholders

   By Megumi Fujikawa 
 

Toshiba Corp. said Friday that the company's new governance committee will investigate causes of inappropriate pressure on foreign investors ahead of its shareholder meeting held in July 2020.

The action comes two months after a report by independent lawyers found that the company worked closely with Japanese government officials to block foreign-based shareholders from exercising their rights at the meeting.

Toshiba said the committee, led by a former Supreme Court judge, will submit a report by October and help the company with measures to prevent similar problems.

The company may ask former Toshiba executives to return compensation if the committee's report finds them responsible for the issue, it said.

 

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

 

(END) Dow Jones Newswires

August 06, 2021 04:29 ET (08:29 GMT)

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