© Reuters. FILE PHOTO: Pedestrians stroll previous a brand of Toshiba Corp outdoors an electronics retailer in Tokyo September 14, 2015. REUTERS/Toru Hanai/File Picture
TOKYO (Reuters) – Toshiba (OTC:) Corp’s greatest investor Effissimo Capital Administration stated on Saturday it has not determined whether or not to assist plans outlined by the Japanese industrial conglomerate to separate into three firms.
Toshiba outlined plans on Friday to separate into three firms in an try and 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 an announcement after a Japanese broadcaster cited an Effissimo-related supply as saying the fund would not assist the plans.
The fund will resolve its stance by Toshiba’s extraordinary shareholders assembly subsequent yr “following honest concerns based mostly on evaluation of engagement of disclosed info in addition to by engagement with the corporate,” the assertion stated.
Toshiba declined to touch upon the Effissimo assertion. “We hope to listen to honest opinions from shareholders after we clarify completely to hunt their understanding in regards to the plans,” it stated in an emailed assertion.
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