TOKYO – Effissimo Capital Management said on Thursday it had decided to vote against Toshiba Corp’s break-up plan that comes up for a vote on March 24, since the plan might ultimately damage medium- to long-term corporate value.
It is the first time that Singapore-based Effissimo, Toshiba’s top shareholder with a stake of about 10%, has stated its stance on the Japanese conglomerate’s controversial restructuring plan.
(Reporting by Makiko Yamazaki; Editing by Clarence Fernandez)