Toshiba apologizes to shareholders after vote probe

Board chair Osamu Nagayama acknowledged a "lack of awareness on our part, including our dealings with METI,"

"I made a deal with METI, but I was not aware of it."

Nice excuse.

Who will pay for the damage tho ?

Toshiba is one Japanese stock I don't own, and will probably never buy, as I just don't have any confidence in their management. This is just the latest disgrace.

The board of directors takes these comments seriously and we will continue to use them to improve management in the future.

Simplify it into "We take these commments seriously and we will continue to use them to improve in the future.". Both are so Japanese ways of saying something but without any meaning.

Toshiba is one Japanese stock I don't own, and will probably never buy, as I just don't have any confidence in their management. This is just the latest disgrace.

Me, won't go near any of their products.

Japanese corporate governance is like a Swiss Cheese, full of holes and starting to turn a greenish blue. No matter how much yellow paint the government try to paint it with.

I was going to make a joke about them only firing outside directors, but the CEO beat me to it by not only not removing anyone (not reappointing is different to removal) but by stealing my idea and limiting punishments to outside directors.

Is this a global company???

@Cricky spot on mate

Apology not accepted, resign (and take the other rubbish with you).

Board chair Osamu Nagayama acknowledged a "lack of awareness on our part, including our dealings with METI," referring to the Ministry of Economy, Trade and Industry

This is not even an apology, the actions of the company (and the METI) are inexcusable and the responsible people can't use the excuse of having just a lapse, it was a planned action with the full intent to damage the interests of investors.

Would Suga care to comment? No, I thought not.

In 25 years, Japan will be a 2nd-world country once again. Mark my words.

To be fair, there are companies in Japan that are faring really well and are ran by younger generation - Softbank, Line, Rakuten, Mercari...

We just need to get rid of the dinosaurs to save the old companies.

@TARA TAN KITAOKAToday  06:22 pm JST

Is this a global company???

learn the difference between pic and Ltd pls.

“Singapore-based Effissimo, Toshiba's top shareholder, had nominated three candidates, including its own co-founder, as directors. Ultimately none were elected.”

taken from a previous JT article.

In 25 years, Japan will be a 2nd-world country once again. Mark my words.

It is already a reality to a certain extent.

*As Japan moved to conduct House of Representatives elections in December 2012, attention in Western media and academic circles turned, as it does from time to time, to the question of whether the country was in decline, or even in some sort of crisis. Already five years have passed since the Minister for Economic Policy declared to the National Diet that “in economic terms Japan is no longer a first-class country,” by which she meant that its GDP had shrunk below 10 per cent as a proportion of the world's for the first time in 24 years.*

Since the 2009 Great Recession, Japan is not considered among the OECD elites (a first-class country). The 2020 COVID-19 Great Recession only double slammed a final blow to the Japanese economy, permanently.

@Septim, none of this will be helped by the fact that hardly any Japanese go abroad for college anymore:

JAOS-Survey-2017_Number-of-Japanese-studying-abroad180124.pdf

Does not do much good for Japanese Credibility as a transparent market environment. Shady back room dealings between the Government and Publicly traded Companies... Government Officials involved should be sacked, and the entire Company delisted - and that includes Toshiba. Go fund yourself somewhere else with other peoples money!