Advisory firm reveals unfair practices in probe

Under probe: The Toshiba Corp building in Tokyo. External board members of the company are calling for change in both the board and management. — Reuters

TOKYO: Institutional Shareholder Services Inc is recommending a vote against five Toshiba Corp board members following an independent probe that showed the company sought government help in an attempt to influence a key shareholder vote that installed its slate of directors.

The advisory firm is recommending a vote against Osamu Nagayama, Junji Ota, Nobuyuki Kobayashi, Takashi Yamauchi and Ayako Hirota Weissman, according to a statement, reiterating the findings of the investigation that showed that the July 2020 shareholder meeting “was not fairly managed.”