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Toshiba's extraordinary meeting Tuesday was attended by 633 shareholders, the fewest since 2015.
Business

Investor go-ahead for memory sale no vote of confidence in Toshiba

Skeptical shareholders demand contingency plans to keep conglomerate listed

| Japan

TOKYO -- Toshiba cleared another hurdle on the path to retaining its stock market listing with Tuesday's shareholder vote to sell its flash memory unit, but investor doubts still linger over the beleaguered conglomerate's prospects.

Just 633 shareholders attended Tuesday's extraordinary meeting outside Tokyo, the fewest since an accounting scandal rocked the Japanese conglomerate in 2015. The proposal to sell Toshiba Memory to an American-Japanese-South Korean consortium led by Bain Capital passed with the necessary two-thirds majority of voting rights exercised.

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