Toshiba investor 3D urges board to take three critical actions before annual meeting
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Toshiba Corp investor 3D Investment Partners is pushing the Japanese company's board to take a trio of actions before its annual general meeting, including seeking interest from buyout firms.
In a letter to the company's board on Wednesday, the Singapore-based fund also asked Toshiba to disclose a mid-range plan that reflects opportunity and consult with shareholders over the board's composition.
3D owns a 7.6% stake in Toshiba, according to data from Refinitiv.
The letter comes after nearly 60% of Toshiba shareholders voted in March against a plan to spin off its devices business.
3D's separate call for a private-equity buyout was rejected last month by just short of 55% of shareholders who voted.
