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Japan stocks track Wall Street's solid finish to close week higher
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
The Nikkei share average rose 0.66% to close at 29,066.18, while the broader Topix advanced 0.80% to 1,962.65. For the week, the Nikkei gained 0.35% to climb just above the 29,000-mark, which market participants said has become a psychological barrier as Japan’s outlook of an economic recovery remains uncertain. “Today’s (Friday) market is tracking Wall Street’s strong gains. Technology stocks also advanced, with Tokyo Electron rising 0.7%, Advantest jumping 1.5%, Fanuc gaining 1.66%. Mazda Motor Corp, up 8.7%, gained the most on the Nikkei, followed by Kobe Steel rising 4.8%.
Persons: Dow, Joe Biden, “ Today’s, ” Shoichi Arisawa Organizations: Nikkei, Nasdaq, U.S, IwaiCosmo Securities, , Tokyo Stock, Panasonic, Toshiba, Mazda Motor Corp, Kobe Steel, Mitsui OSK Lines Locations: TOKYO, Japan, U.S, Tokyo
Toshiba investor 3D Investment welcomes board changes
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: 1 min
TOKYO, June 25 (Reuters) - Singapore-based fund 3D Investment Partners said it welcomed the changes to Toshiba Corp’s board after shareholders voted out board chairman Osamu Nagayama on Friday. “We hope that today’s AGM (annual general meeting) marks the beginning of a new era at Toshiba – one that will be marked by a focus on value creation, transparency to all stakeholders and a renewed commitment to building trust with shareholders,” the fund, one of Toshiba’s largest shareholders, said in a statement. (Reporting by Makiko Yamazaki)
Persons: Osamu Nagayama, , Makiko Yamazaki Organizations: Investment Partners, Toshiba Locations: TOKYO, Singapore
Smoke rises from a factory during the sunset at Keihin industrial zone in Kawasaki, Japan, January 16, 2017. REUTERS/Toru Hanai/File PhotoSummary https://amers2.apps.cp.thomsonreuters.com/Apps/econ-polls?RIC=JPIP1%3DECI output poll datahttps://amers2.apps.cp.thomsonreuters.com/Apps/econ-polls?RIC=JPRSLS%3DECI retail sales poll datahttps://amers2.apps.cp.thomsonreuters.com/Apps/econ-polls?RIC=JPUNR%3DECI unemployment poll dataTOKYO, June 25 (Reuters) - Japan's factory output likely fell in May while retail sales rose for a third straight month, a Reuters poll showed on Friday, highlighting the uneven recovery in the world's third largest economy from the COVID-19 pandemic. While pent-up demand may underpin private consumption, which makes up more than half of the economy, a global chip shortage may weigh on an export-led recovery, analysts say. "Overseas economies will continue to recover but cuts in car production will drag on, causing factory output to seesaw in June and July as well," said Takeshi Minami, chief economist at Norinchukin Research Institute. Japan's economy likely avoided falling into recession this quarter but an extension of emergency measures to stem a rise in coronavirus infections has dented the growth outlook, a separate Reuters poll showed.
Persons: Toru Hanai, Takeshi Minami, Tetsushi Kajimoto, Kim Coghill Organizations: REUTERS, Tokyo, of Economy, Trade, Industry, Norinchukin Research, Thomson Locations: Kawasaki, Japan, TOKYO, Tokyo, COVID
Japanese shares track Wall St higher, cautious outlook caps gains
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
TOKYO, June 25 (Reuters) - Japanese shares rose on Friday, led by cyclical and technology stocks, as markets tracked a strong finish on Wall Street, although the gains were capped by a cautious outlook of U.S. equities and worries around the domestic economy’s recovery. “Today’s (Friday) market is tracking Wall Street’s strong gains. Technology stocks also advanced, with Tokyo Electron rising 0.99%, Advantest jumping 2.0%, Fanuc gaining 0.46%. Nikkei’s 29,000-mark has become a psychological barrier as Japan’s outlook of an economic recovery remains uncertain, market participants said. Mazda Motor Corp, up 6.35%, gained the most on the Nikkei, followed by Panasonic and Fujikura which rose 3.91%.
Persons: Dow, Joe Biden, “ Today’s, , Shoichi Arisawa Organizations: Nikkei, Nasdaq, U.S, IwaiCosmo Securities, , Tokyo Stock, Panasonic, Mazda Motor Corp, Eisai, Mitsui OSK Lines, Nippon Yusen Locations: TOKYO, Japan, U.S, Tokyo
For many, the result at the annual general meeting marks a new watershed moment for corporate governance in Japan after activist Toshiba shareholders prevailed earlier this year in securing a probe into the allegations of pressure on overseas investors. According to one Toshiba source, foreign investors had voted in greater numbers than in the company's previous shareholder meetings as they saw it as an important test case of corporate governance in Japan. 1/4 Toshiba Corp. Board of Directors Chairperson Osamu Nagayama attends a news conference in Tokyo Japan June 14, 2021, in this handout photo taken and released by Toshiba Corporation. Nagayama's ouster could help activist shareholders push the company to consider take-private offers. Nagayama only joined Toshiba's board in mid-2020 after the alleged pressuring of foreign shareholders to vote in line with management's board nominees took place.
Persons: Justin Tang, Osamu Nagayama, Satoshi Tsunakawa, Hiroshi Kajiyama, Akira Amari, Nagayama, Japan John Roos, Glass Lewis, Nobuyuki Kobayashi, Makiko Yamazaki, Tim Kelly, Edwina Gibbs Organizations: Toshiba Corp, Toshiba, United First Partners, Trade, Toshiba Corporation, Handout, REUTERS, Liberal Democratic Party, Capital, Pharmaceutical, Sony Group Corp, Services Inc, Investment Partners, Toshiba's, Investment, Thomson Locations: TOKYO, Japan, Singapore, Tokyo Japan, U.S, Toshiba's Singapore
TOKYO — Shareholders of the scandal-plagued industrial giant Toshiba threw out the company’s board chairman on Friday, after an investigation revealed that top executives had worked with the Japanese government to inappropriately pressure investors. The ouster of the chairman, Osamu Nagayama, 74, represents a major win in a battle between Toshiba and foreign investors who have pushed the conservative company to clean up its governance. It is also a breakthrough in a broader effort to increase investor oversight of Japanese corporations, following a series of government-led changes meant to make companies more transparent and accountable. The resulting scandal led to the resignation of the company’s chief, Nobuaki Kurumatani, as well as four board members. But Mr. Nagayama, the chairman, had stayed on, arguing that he had a responsibility to clean up the company’s governance.
Persons: Osamu Nagayama, Nobuaki, Nagayama Organizations: TOKYO — Shareholders, Toshiba Locations: TOKYO
Shareholders vote out Toshiba board chairman in big win for corporate governance in Japan
  + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.99   time to read: +1 min
Shareholders at crisis-ridden Toshiba voted out its board chairman and one other director on Friday, a forceful rebuke of the company after it was found to have colluded with the government in suppressing foreign investor interests. For many, the result at the annual general meeting marks a new watershed moment for corporate governance in Japan after activist Toshiba shareholders prevailed earlier this year in securing a probe into the allegations of pressure on overseas investors. The newly elected board will meet later on Friday to discuss who will head the new board. According to one Toshiba source, foreign investors had voted in greater numbers than in the company's previous shareholder meetings as they saw it as an important test case of corporate governance in Japan. Nagayama only joined Toshiba's board in mid-2020 after the alleged pressuring of foreign shareholders to vote in line with management's board nominees took place.
Persons: Justin Tang, Osamu Nagayama, Nagayama Organizations: Toshiba, United First Partners Locations: Tokyo, Japan, Singapore
Toshiba Corp. Board of Directors Chairperson Osamu Nagayama attends a news conference in Tokyo Japan June 14, 2021, in this handout photo taken and released by Toshiba Corporation. For many, the result at the annual general meeting marks a new watershed moment for corporate governance in Japan after activist Toshiba shareholders prevailed earlier this year in securing a probe into the allegations of pressure on overseas investors. The newly elected board will meet later on Friday to discuss who will head the new board. Nagayama only joined Toshiba's board in mid-2020 after the alleged pressuring of foreign shareholders to vote in line with management's board nominees took place. Shareholder advisory firms Institutional Shareholder Services Inc and Glass Lewis had recommended shareholders not reappoint him, while 3D Investment Partners, Toshiba's Singapore-based No.
Persons: Osamu Nagayama, Justin Tang, Nagayama, Japan John Roos, Glass Lewis, Nobuyuki Kobayashi, Makiko Yamazaki, Tim Kelly, Edwina Gibbs Organizations: Toshiba Corp, Toshiba Corporation, Handout, REUTERS, Toshiba, United First Partners, Pharmaceutical, Sony Group Corp, Services Inc, Investment Partners, Toshiba's, Investment, Capital, Thomson Locations: Tokyo Japan, TOKYO, Japan, Singapore, U.S, Toshiba's Singapore
REUTERS/Kim Kyung-HoonSHANGHAI, June 25 (Reuters) - Asian shares rose on Friday, tracking gains on Wall Street overnight that lifted the Nasdaq and the S&P 500 indexes to record highs after U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal. read moreIn morning trade, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 0.58%. Chinese blue-chips (.CSI300) rose 0.43%, Hong Kong's Hang Seng (.HSI) added 0.61%, Seoul's Kospi (.KS11) was up 0.79% and Australian shares (.AXJO) climbed 0.22%. Overnight, the S&P 500 (.SPX) gained 0.58% and the Nasdaq Composite (.IXIC) added 0.69%, lifting both indexes to record high closes. Benchmark 10-year U.S. Treasuries , which saw yields dip after Biden's announcement of an infrastructure bill were last at 1.497%, up from a close of 1.487% on Thursday.
Persons: Kim Kyung, Hoon, Joe Biden, Kerry Craig, Biden, Craig, Seoul's, Christopher Wood, Andrew Galbraith, Tom Westbrook, Ana Nicolaci da Organizations: Nikkei, REUTERS, Nasdaq, Investors, Morgan Asset Management, U.S, Japan's Nikkei, U.S . Federal Reserve, Jefferies, Dow Jones, drawdowns, U.S . West Texas, Brent, Thomson Locations: Tokyo, Japan, Hoon SHANGHAI, U.S, Asia, Pacific, mull, Singapore, Ana Nicolaci da Costa
Coburn dominates steeplechase, Felix advances in 200m at US trials
  + stars: | 2021-06-25 | by ( Amy Tennery | ) www.reuters.com + 0.00   time to read: +3 min
Jun 24, 2021; Eugene, OR, USA; Emma Coburn wins the women's steeplechase in a meet-record 9:09.41 during the US Olympic Team Trials at Hayward Field. Mandatory Credit: Kirby Lee-USA TODAY SportsJune 25 (Reuters) - Emma Coburn cruised to victory in the women's 3,000 metres steeplechase at the U.S. Olympic trials in Eugene, Oregon on Thursday to book her spot at the Tokyo Games, while six-times Olympic champion Allyson Felix advanced to the 200m semi-finals. Rio Games bronze medallist Coburn clocked 9:09.41 to win her seventh straight U.S. title, finishing more than two seconds ahead of Courtney Frerichs, and dedicated her win to her mother, who has stage 4 cancer. Gabby Thomas put up a world-leading 21.98 in the 200m heats while 35-year-old Felix, the 2012 Olympic champion, scraped through to Friday's semi with a time of 22.56. Reigning Olympic champion Michelle Carter is unable to compete at the trials due to the removal of a benign tumour.
Persons: Emma Coburn, Kirby Lee, Allyson Felix, Coburn, Courtney Frerichs, Gabby Thomas, Felix, Chanelle Price, Ajee Wilson, Mu, Price, Jessica Ramsey, Raven Saunders, Adelaide Aquilla, Michelle Carter, Rai Benjamin, Winston Benjamin, phenom Hobbs Kessler, Jim Ryun’s, Jenn Suhr, Katie Nageotte, Sandi Morris, Amy Tennery, Gene Cherry, Peter Rutherford Organizations: US Olympic, Hayward, USA, U.S, Tokyo Games, Rio, Adelaide, Thomson Locations: Eugene, USA, Eugene , Oregon, Tokyo, U.S
Djokovic on a double mission as glory looms
  + stars: | 2021-06-25 | by ( Zoran Milosavljevic | ) www.reuters.com + 0.00   time to read: +3 min
Tennis - Serbia's Novak Djokovic poses with the trophy as he celebrates winning the 2019 Wimbledon final against Switzerland's Roger Federer. I do think that he can do it," Eurosport expert and seven-time Grand Slam champion Mats Wilander said. Having won the Australian Open in February, Djokovic initially struggled on the European clay. Even though Nadal is absent and eight-time champion Federer may be off the pace, Djokovic still faces a formidable field. Writing by Zoran Milosavljevic and Martyn Herman; editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.
Persons: Serbia's Novak Djokovic, Switzerland's Roger Federer, Toby Melville BELGRADE, Novak, Rafa Nadal, Roger Federer, Rod Laver, Nadal, Mats Wilander, Djokovic, Stefanos, Sam Querrey, Federer, Zoran Milosavljevic, Martyn Herman, Pritha Sarkar Organizations: Wimbledon, Lawn Tennis, Croquet Club, Djokovic, Federer, Tokyo, Eurosport, Nadal, Mallorca, French, U.S, Thomson Locations: London, Britain, Spanish, Mallorca
BOA still trying to convince some Team GB athletes to get vaccinated: chief
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Issei KatoJune 25 (Reuters) - The British Olympic Association is still trying to convince some athletes to get vaccinated against COVID-19 before next month's Tokyo Olympics, chief executive Andy Anson said. The BOA said earlier this month it was on track to ensure all athletes and staff were fully vaccinated before the Olympics. read moreThe Tokyo Games, delayed last year because of the COVID-19 pandemic, will begin on July 23. "We're trying to convince them it's the right thing to do," Anson told the BBC on Friday. Anson said the Athletes' Village in Tokyo will be "probably the toughest environment in sports at this time".
Persons: Issei Kato, Andy Anson, Anson, it's, Manasi Pathak, Peter Rutherford Organizations: Tokyo Metropolitan Government Office, REUTERS, British Olympic Association, COVID, BOA, Tokyo Games, BBC, Athletes, Olympic, Thomson Locations: Tokyo, Japan, Bengaluru
Japan's Rakuten to use Cisco routing tech for 5G, IoT services
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.99   time to read: +1 min
The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey/File PhotoSTOCKHOLM, June 25 (Reuters) - Rakuten Mobile (4755.T) said on Friday that it plans to use new routing technologies from network gear maker Cisco (CSCO.O) to expand its capacity to support business customers with 5G and so-called Internet of Things (IoT) services. Rakuten, with 4 million subscribers, will use the new technology to make the entire network more automated to deploy services faster, reduce latency and lower power consumption. Companies such as Dish Network (DISH.O), which is racing to build a 5G network in the United States by 2023, are also building networks based on Open RAN as it promises to radically cut costs. Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
Persons: Sam Nussey, Tareq Amin, Supantha Mukherjee, Sherry Jacob, Phillips Organizations: REUTERS, Rakuten, Cisco, 5G, Radio Access Network, Dish Network, RAN, European Technology, Telecoms, Thomson Locations: Rakuten, Tokyo, Japan, STOCKHOLM, United States, European, Stockholm
Japan to give 6 mln doses of vaccines to Taiwan, 5 SE Asia nations
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A medical worker receives a dose of the vaccine against the coronavirus disease (COVID-19) at the Tokyo Metropolitan Cancer and Infectious Diseases Center Komagome Hospital in Tokyo, Japan March 5, 2021. read moreJapan donated 1.24 million doses to Taiwan and 1 million to Vietnam this month and plans to share an additional 1 million doses each with the two. A Taipei-based official familiar with Japan's two vaccine donations said while the Japanese government has been subtle in its offers, mainly focusing on Taiwan's urgent medical need, there was a broader message. The island, which China claims as its own territory, also received 2.5 million vaccine doses from the United States this month. Its foreign minister, Toshimitsu Motegi, said on Friday Japan would start to supply 11 million doses in total to regions including Southeast Asia, Southwest Asia and the Pacific islands through the COVAX from mid-July.
Persons: Yoshikazu, Toshimitsu Motegi, Nobuhiro Kubo, Elaine Lies, Jacqueline Wong Organizations: Tokyo Metropolitan Cancer, Infectious Diseases, Komagome Hospital, REUTERS, AstraZeneca Plc's, World Health Organization, Japan, AstraZeneca, Thomson Locations: Tokyo, Japan, REUTERS TOKYO, Taiwan, Vietnam, Thailand, Malaysia, Indonesia, Philippines, Asia, Gavi, COVAX, Taipei, China, Beijing, United States, Southeast Asia, Southwest Asia
Canada's Gaucher says forced to choose between going to Games or being a mum
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
2016 Rio Olympics - Basketball - Preliminary - Women's Preliminary Round Group B Canada v Serbia - Youth Arena - Rio de Janeiro, Brazil - 08/08/2016 - Kim Gaucher (CAN) of Canada shoots a free throw. REUTERS/Shannon StapletonJune 25 (Reuters) - Canadian women's basketball player Kim Gaucher said she is being forced to decide between "being a breastfeeding mom or an Olympic athlete" because she cannot bring her three-month-old daughter to Tokyo due to COVID-19 protocols. Canada, ranked fourth in the world, are due to face Serbia in their opening match at the Tokyo Olympics, which begin on July 23. "Right now I'm being forced to decide between being a breastfeeding mom or an Olympic athlete. "Japanese fans are going to be in attendance, the arenas are going to be half-full, but I will not have access to my daughter?"
Persons: Kim Gaucher, Shannon Stapleton, Gaucher, Manasi Pathak, Peter Rutherford Organizations: Canada, Rio, REUTERS, Tokyo, Canadian Olympic Committee, Games, Reuters, International Olympic Committee, Thomson Locations: Serbia, Rio de Janeiro, Brazil, Canada, Tokyo, Japan, Bengaluru
Toshiba chair ouster risks strategic hold-up
  + stars: | 2021-06-25 | by ( Jennifer Hughes | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Kim Kyung-HoonHONG KONG, June 25 (Reuters Breakingviews) - Revenge can be sweet, but it is not always a profitable emotion. Toshiba (6502.T) shareholders have voted out board chair Osamu Nagayama in one of corporate Japan’s biggest ever upsets. Nagayama, who joined the board after that campaign, is carrying the can for the company’s resistance to the independent probe. At the very least, the 74-year-old’s standing as one of corporate Japan’s most successful board leaders gave scandal-wracked Toshiba some gravitas. - One other board member, Nobuyuki Kobayashi, was also voted out at the June 25 shareholders’ meeting.
Persons: Kim Kyung, Osamu Nagayama, Nagayama, Nobuyuki Kobayashi, Una Galani, Sharon Lam Organizations: REUTERS, Reuters, Toshiba, Economy, Trade, Industry, Sony, Locations: Tokyo, Japan, HONG KONG
TOKYO (Reuters) -Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday. REUTERS/Toru Hanai/File PhotoThe sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investing in growth. Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. While Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. The stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, but comes as the automaker is diversifying its own battery supply chain.
Persons: Toru Hanai, Elon Musk’s Tesla, , Hideki Yasuda, Musk, Tesla, Yasuda, China’s Organizations: Panasonic Corp, Tesla, Technologies, Makuhari, REUTERS, Elon, Panasonic, Ace Research Institute, South Korea’s LG, LG Chem, Reuters Locations: TOKYO, Chiba, Japan, Shanghai, U.S
Panasonic sells Tesla stake for $3.6 billion
  + stars: | 2021-06-24 | by ( Sam Nussey | Shinji Kitamura | ) www.reuters.com + 0.00   time to read: +2 min
TOKYO (Reuters) - Panasonic Corp sold its stake in electric car maker Tesla Inc for about 400 billion yen ($3.61 billion) in the year ended March, a spokesperson for the Japanese company said on Friday. REUTERS/Toru Hanai/File PhotoThe sale comes as the bicycles-to-hair dryers conglomerate is seeking to reduce its dependence on Tesla and raise cash for investments. Panasonic bought 1.4 million Tesla shares at $21.15 each in 2010 for about $30 million. While Panasonic gave financial backing to Tesla when it was smaller, the automaker’s expansion means there’s no need for capital ties, Yasuda added. The stake sale will not affect the partnership with Tesla, the Panasonic spokesperson said, and was made as part of a review of shareholdings in line with corporate governance guidelines.
Persons: Toru Hanai, Elon Musk’s Tesla, , Hideki Yasuda, Musk, Tesla, Yasuda, China’s Organizations: Panasonic Corp, Tesla, Technologies, Makuhari, REUTERS, Elon, Panasonic, Ace Research Institute, South Korea’s LG, LG Chem, Reuters Locations: TOKYO, Chiba, Japan, Shanghai, U.S
Below are issues at stake for financial institutions, and where Japan stands on the global debate on assessing financial risks associated with climate change. WHAT’S AT STAKE FOR FINANCIAL INSTITUTIONS? Australian regulators also unveiled plans earlier this month to increase their oversight of climate change reporting by listed companies and financial institutions. Some big insurers have internally conducted calculations on the potential increase in claim payments from climate change. The Bank of Japan has stepped up efforts to raise awareness among financial institutions on climate risks.
Persons: Haruhiko Kuroda, Leika Kihara, Muralikumar Anantharaman Organizations: Force, Finance Initiative, UNEP, JAPAN, Sompo Holdings, The Bank of Japan Locations: TOKYO, Japan, Netherlands
Kansai Electric faces pressure from shareholders to decarbonise
  + stars: | 2021-06-24 | by ( Aaron Sheldrick | ) www.reuters.com sentiment -0.78   time to read: +2 min
TOKYO, June 24 (Reuters) - Some Kansai Electric Power shareholders, including Nordea Asset Management and KLP, say they will back a resolution opposed by the board requiring the Japanese electricity supplier to decarbonise to meet international targets on climate change. The resolution put forward by the City of Kyoto, which owns a stake in Kansai and gave its name to the first international climate change agreement, requires Kansai Electric to stop building new coal plants and to use carbon capture and storage for its existing coal stations, a city official told Reuters earlier. Kansai Electric did not immediately respond to a request for comment. Kansai Electric which serves Osaka and its industrial environs - an area with roughly the same economic output as Mexico - this week restarted an old reactor that had to get special approval to remain in operation. AkademikerPension of Denmark will also back the resolution, its CEO, Jens Munch Holst, said.
Persons: Nordea, ” Eric Christian Pedersen, , Kiran Aziz, Jens Munch Holst Organizations: Kansai Electric Power, Nordea Asset Management, City, Kansai Electric, Reuters, Kansai Electric Power Company, Electric Locations: TOKYO, Europe, United States, Japan, Kyoto, Kansai, Danish, Osaka, Mexico, KLP, Denmark
Nakamura said investigators were stonewalled by a METI official when they tried to submit a draft summary of Mizuno’s comments for his review. A senior METI official, Masayoshi Arai, said investigators presented a summary of Mizuno’s comments despite being asked to show how his statements would be used in the report. They brought a draft summary to a METI official to be forwarded to Mizuno, and asked for guidance on what changes were wanted. Ultimately investigators were not able to include Mizuno’s comments, Nakamura said. He said the ministry later asked if it could pass the draft summary on to Mizuno, but investigators did not respond.
Persons: Issei Kato, Takao Nakamura, ” Nakamura, Hiromichi Mizuno, Tesla, Mizuno, Nakamura, Masayoshi Arai, Arai, , , METI Organizations: Toshiba, Toshiba Corp, REUTERS, Reuters, Japan’s Ministry, Economy, Trade, Industry, Harvard, METI Locations: TOKYO, Tokyo, Japan
Toshiba Shareholders Oust Chairman in Landmark for Foreign Activists
  + stars: | 2021-06-24 | by ( Megumi Fujikawa | ) www.wsj.com sentiment -1.00   time to read: +1 min
Shareholders voted against the re-election of Osamu Nagayama, former head of a Roche Holding AG subsidiary in Japan. The vote followed controversy over a shareholder-commissioned report released June 10. Toshiba executives used inappropriate language such as “beat them up,” and the ministry improperly tried to use a foreign-investment law to threaten foreign shareholders, the report said. The report didn’t mention any direct involvement by Mr. Nagayama in the activity, but several foreign shareholders said they held the chairman responsible for the conduct. Institutional shareholders like Norway’s Norges Bank Investment Management had expressed their intent to vote against Mr. Nagayama.
Persons: Osamu Nagayama, wasn’t, Nagayama Organizations: TOKYO — Toshiba Corp, Roche Holding AG, Toshiba, Ministry, Economy, Trade, Industry, Norway’s Norges Bank Investment Management Locations: Japan
Senior Japanese lawmaker accuses Toshiba activists of short-termism
  + stars: | 2021-06-24 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
TOKYO (Reuters) -A senior member of Japan’s ruling party on Thursday accused activist investors in Toshiba Corp of focusing only on short-term profits and called for better monitoring of such investors to protect economic security. “Activist investors only think about selling high,” he said. Singapore-based Effissimo Capital Management, 3D Investment Partners and U.S. hedge fund Farallon Capital Management together own more than 20% of Toshiba. Amari said Japanese investors, not foreign activists, should have invested in Toshiba to save the company. Toshiba holds a shareholder meeting on Friday where its board chairman Osamu Nagayama faces a crucial vote over his reappointment.
Persons: Akira Amari, ” Amari, , , Amari, Osamu Nagayama Organizations: Toshiba Corp, Liberal Democratic Party, Reuters, Toshiba, , Effissimo Capital Management, Investment Partners, Farallon Capital Management Locations: TOKYO, Tokyo, Singapore
Japan’s Emperor Is Concerned About Coronavirus Spread at Olympics, Aide Says
  + stars: | 2021-06-24 | by ( Alastair Gale | ) www.wsj.com sentiment -0.95   time to read: +1 min
TOKYO—Japan’s Emperor Naruhito appears concerned the Tokyo Olympics will spread Covid-19, a senior aide said, a rare expression of opinion about current events by the imperial court. The remarks Thursday by Yasuhiko Nishimura, grand steward of the Imperial Household Agency, came as infection rates in Japan trend higher again ahead of the opening of the Olympics on July 23. “Amid public concern, I think that the emperor is worried that the Olympics could lead to an increase in infections,” Mr. Nishimura said, according to Japanese media. Chief government spokesman Katsunobu Kato said he would ask the agency for more details but he said he viewed the remarks as the opinion of Mr. Nishimura. The grand steward said he was conveying what he believed was the emperor’s own view based on their conversations.
Persons: Naruhito, Yasuhiko Nishimura, , Mr, Nishimura, Imperial Household Agency couldn’t, Katsunobu Kato Organizations: Imperial Household Agency, Olympics Locations: TOKYO, Tokyo, Covid, Japan
TOKYO, June 24 (Reuters) - A senior member of Japan’s ruling party on Thursday lashed out at activist investors of Toshiba Corp for what he said was a sole focus on short-term profits, and called for better monitoring of activists to protect economic security. “There should be strict monitoring. We need to watch carefully so that Japan’s security is not threatened,” Amari told Reuters in an interview. He said it was “not right” that Toshiba was reliant on activist investors who were only interested in short-term profits and did not understand the importance of the conglomerate to Japan’s “economic intelligence”. (Reporting by Takashi Umekawa and Kaori Kaneko; Editing by David Dolan)
Persons: Akira Amari, ” Amari, , Takashi Umekawa, Kaori Kaneko, David Dolan Organizations: Toshiba Corp, Liberal Democratic Party, Reuters, Toshiba Locations: TOKYO, Tokyo
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