Toshiba’s second largest investor calls for EGM

Mandate required: The Toshiba logo is seen at its headquarters in Tokyo. The proposal by 3D marks the latest in a long and acrimonious battle between the once-mighty tech conglomerate and a number of its foreign shareholders. — AFP

TOKYO: The second-largest investor in Japan’s Toshiba Corp has called for an EGM, seeking to force the company to win two-thirds support for a three-way breakup plan that has angered some major overseas shareholders.

The proposal by Singapore-based hedge fund 3D Investment Partners marks the latest in a long and acrimonious battle between the once-mighty tech conglomerate and a number of its foreign shareholders, many of them activist funds.