Chairman
CVC's proposal to take Toshiba private, widely seen as being solicited by Kurumatani in a bid to fend off pressure from foreign activist investors calling for more transparent management, is opposed by some board members, sources close to the matter have said.
The purchase of Toshiba would cost more than
Kurumatani has seen his support from shareholders dwindle. At the general shareholders meeting in July, 57.96 percent supported Toshiba's move to keep him in the post, down from 99.43 percent a year earlier, according to Toshiba.
Last month, Toshiba held an extraordinary shareholders meeting at the request of foreign activist investors. A proposal by
The fund had called for a fresh investigation into whether Toshiba's general shareholder meeting last year was held fairly since shareholder services provider
Toshiba has spent years trying to improve its governance and has undergone restructuring since an accounting scandal in 2015, followed by the bankruptcy of
==Kyodo
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