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Search resuls for: "METI"

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The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon/File photoFour Toshiba Corp (6502.T) directors called on Friday for a shake-up of its management and board, in a sign of revolt after an investigation found the conglomerate colluded with the Japanese government to "beat up" foreign shareholders. The investigators detailed one email among top Toshiba managers about the company's largest shareholder, Singapore-based hedge fund Effissimo Capital Management. It doesn't mean they're perfect yet," said Brian Heywood, CEO of Taiyo Pacific Partners, an activist fund that has operated in Japan for 20 years. As a result, activist investors are estimated to account for 25% of Toshiba's shareholder base.
Persons: Kim Kyung, Jerome Black, Paul Brough, Ayako Weissman, George Zage, METI, Yoshihide Suga, Suga, Hiroshi Kajiyama, Hiromichi Mizuno, Mizuno, Brian Heywood, Glass Lewis, Osamu Nagayama, Nobuaki Kurumatani Organizations: Toshiba Corp, REUTERS, Japan Inc, Ministry, Economy, Trade, Industry, Toshiba, Capital Management, Investment Partners, Harvard, Reuters, Tesla Inc, Investment Fund, Innovative Finance, Sustainable Investment, JAPAN, Taiyo Pacific Partners, CVC Capital, Thomson Locations: Kawasaki, Japan, Singapore, Tokyo
REUTERS/Toru Hanai/File PhotoJapan's trade ministry colluded with Toshiba Corp's (6502.T) management to unduly influence a key shareholder vote last year, an independent probe found, undermining Tokyo's efforts to improve corporate governance and win over foreign investors. Toshiba's management "worked closely" with the ministry to exert "undue influence on some shareholders," the report found. The probe, conducted by three lawyers, found that Toshiba, with the ministry, tried to force Effissimo to withdraw shareholder proposals for board nominees aimed at improving governance. The ministry has previously said that it never asked the adviser to contact Toshiba shareholders. CVC's offer to take the Japanese conglomerate private and retain incumbent management was perceived by some in the company as designed to shield Kurumatani from activist shareholders, Toshiba sources have said.
Persons: Toru Hanai, Toshiba Corp's, Shinzo Abe, METI, barbecuing, Toshiba's, Yoshihide Suga, Abe, Suga, Effissimo, Nobuaki Kurumatani Organizations: Toshiba Corp, REUTERS, Toshiba, Harvard, Ministry, Economy, Trade, Industry, Reuters, Effissimo Capital Management, Investment Partners, CVC Capital, Thomson Locations: Tokyo, Japan, Singapore
The probe's findings mark an explosive turn in a long battle between the Japanese company's management and foreign shareholders, which include activist investors and Harvard University's endowment fund. The investigators also allege that Suga encouraged the pressure on Toshiba investors in a breakfast meeting with a senior company executive last July. A spokesperson for the Harvard fund declined to comment, while 3D did not immediately respond to a request for comment. The Harvard fund ultimately abstained from voting. Toshiba said at the time it was not involved in any efforts to pressure Harvard.
Persons: Yoshihide Suga, Suga, METI, Toru Hanai, Shinzo Abe, barbecuing, Nicholas Benes, Will, Hiromichi Mizuno, Nobuaki Kurumatani Organizations: Toshiba Corp, Toshiba, Harvard, Ministry, Economy, Trade, Industry, Effissimo Capital Management, Reuters, REUTERS, Investment Partners, Training, of Japan, CVC Capital, Thomson Locations: Tokyo, Singapore, Japan
Tax season is here and small business owners are facing another complicated filing season. While there's an opportunity for business owners to receive new tax credits or deductions, it's vital they file taxes or an extension on time in order to avoid financial penalties, she added. Additional time could come in handy for business owners wading through the various tax credits and deductions offered to companies that battled the pandemic last year. Lastly, Caruso recommends business owners who file electronically retain confirmation of their filing. Since last year, the IRS has encouraged people to file taxes electronically.
Persons: Robbin Caruso, there's, LLCs, Caruso, Nicole Davis, Butler, Davis Organizations: Prager Metis, NEC, Democrats, IRS
Entrepreneurs must file taxes, or an extension, on time in order to avoid financial penalties. Taxes were due March 15 for certain small businesses, like multiple-member LLCs. Here's what to do if you missed the deadlineSmall businesses that are S-Corps, multiple-member LLCs, or pass through entities must file their taxes by March 15, Caruso said. Taxes are due April 15 for most small businesses, like sole proprietorsBusinesses classified as single-member LLCs, C-Corps, or sole proprietors must file taxes by April 15, Caruso said. Since last year, the IRS has encouraged people to file taxes electronically.
Persons: It's, Robbin Caruso, there's, LLCs, Caruso, Davis, Nicole Davis, Butler Organizations: Prager Metis, NEC, Democrats, IRS
Businesses may now have PPP loans forgiven and also claim the employee retention tax credit. Congress passed regulations in December that made several changes to business tax deductions and incentives. PPP borrowers can now also claim the employee retention tax creditThis changes the original rule that restricted businesses receiving PPP loans from claiming the Employee Retention Credit (ERC). To get the deduction, companies can claim 70% of their quarterly wages, up from 50% last year. The 179D energy-efficient building tax deduction was made permanentThe 179D tax deduction benefits companies that construct or renovate energy-efficient commercial buildings.
Persons: Read, Dean, alliantgroup, Zerbe, Donald Trump's, Martin Davidoff, Davidoff, Here's Organizations: Consolidated, ERC, Dean Zerbe, Architects, Distillers, distillers, Alcohol, Tobacco Tax, Trade Bureau, Prager Metis, McDonalds, Walmart
Cryptocurrency's value plummets. Here's what it means for your taxes
  + stars: | 2021-01-11 | by ( Darla Mercado | Cfp | ) sentiment -1.00   time to read: +1 min
Holders of cryptocurrency have more than price volatility to worry about this year. The taxman wants to know about your trading activity. Bitcoin hit fresh highs during the weekend, creeping toward $42,000 on Jan. 8. However, its value tanked on Monday amid a sell-off in cryptocurrencies, and bitcoin's value is now hovering around $33,000. Regardless of whether you interpret the decline in price as a buying opportunity or an alarm to get out, you'll need to share the information with the IRS.
Persons: Martin Davidoff Organizations: Smart Tax, Prager Metis Locations: cryptocurrencies
Dentsu Inc received at least $1.2 billion of that amount as a subcontractor to the two non-profit groups, according to government records, and many of the contracts were awarded in non-competitive bids. In response to the outcry over the coronavirus relief contract, METI conducted a review of its procurement practices. In response to Reuters’ questions, Dentsu and Service Design said Dentsu was cooperating on the tourism project as part of the non-profit and Service Design led the project. Service Design said it would “take appropriate measures” following METI’s review of its procurement practices, without giving further details. Alongside Service Design, Dentsu also won contracts through a second non-profit group called the Sustainable Open Innovation Initiative (SII), which is run by Satoshi Tanaka, a former Dentsu employee.
Persons: Kim Kyung, Dentsu, Yoshihide Suga’s, , METI, Hidekazu, , ” Takakura, Hiroshi Arikawa, Satoshi Tanaka, SII, SII’s Tanaka Organizations: Dentsu Inc, REUTERS, Reuters, Dentsu, Liberal Democratic Party, Design Engineering, Japan’s Ministry, Economy, Trade, Industry, Japan’s, Audit, Service, Michelin, Design, Innovation, SII, METI Locations: TOKYO, Tokyo Japan, Tokyo, Japan
TOKYO (Reuters) - Japan’s trade ministry unveiled a raft of public procurement reforms on Friday following an outcry over a deal to disburse coronavirus relief to struggling businesses that involved powerful advertising agency Dentsu Inc. Dentsu, METI and Service Design all have said that the funds were handled appropriately. METI launched an internal review of the scheme and of its public works procurement practices. Dentsu said it would halt any bids for trade ministry projects. They would need to give equal time to each of them and ensure that the meetings are recorded and the records preserved, the new rules stipulate.
Persons: METI, Dentsu, it’s Organizations: Dentsu Inc, Ministry, Economy, Trade, Industry, Dentsu, Design Engineering Locations: TOKYO
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