Market

Toshiba’s top shareholder says undecided whether to support breakup By Reuters



© Reuters. FILE PHOTO: Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo September 14, 2015. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) – Toshiba (OTC:) Corp’s biggest investor Effissimo Capital Management said on Saturday it has not decided whether to support plans outlined by the Japanese industrial conglomerate to split into three companies.

Toshiba outlined plans on Friday to split into three companies in an attempt to appease activist shareholders calling for a radical overhaul of the Japanese conglomerate after years of scandals.

Singapore-based Effissimo, which owns a 9.9% stake in Toshiba, issued a statement after a Japanese broadcaster cited an Effissimo-related source as saying the fund wouldn’t support the plans.

The fund will decide its stance by Toshiba’s extraordinary shareholders meeting next year “following sincere considerations based on analysis of disclosed information as well as through engagement with the company,” the statement said.

Toshiba declined to comment on the Effissimo statement. “We hope to hear sincere opinions from shareholders after we explain thoroughly to seek their understanding about the plans,” it said in a emailed statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

close