1. Japan Kept Activist Investor in Limbo Over Key Toshiba Vote, Sources Say

    Japan Kept Activist Investor in Limbo Over Key Toshiba Vote, Sources Say

    TOKYO: Activist fund Effissimo Capital Management, the biggest investor in Toshiba Corp, was kept in limbo by Japan's government over a key shareholder vote until the day before the industrial conglomerate's annual meeting, two government sources said...

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    1. Because METI wasn't able to forecast how much support (Effissimo's) proposal would get, some officials insisted it was better to delay the decision as much as possible.
    2. Approval was granted at the very last minute.
    3. Our reviews are made only from the viewpoints listed in the law: whether inward direct investment would cause national security to be impaired, the maintenance of public order to be disturbed, or the protection of public safety to be hindered.
    4. Factors other than genuine national security seem to be affecting the timing and substance of METI's decision.
    5. Japan is competing with other markets for capital and for the interest of investors.
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