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US investor adviser urges AGM to vote against Toshiba nominees

Glass Lewis recommendation follows probe into conglomerate's governance

Japan's trade ministry has denied that it worked with Toshiba to prevent shareholders from fully exercising their rights at the company's annual meeting last July. (Photo by Yo Inoue)

TOKYO -- U.S. proxy advisory firm Glass Lewis is urging shareholders to vote against Toshiba's board chairman and four other board nominees at the company's annual general meeting this month, after a probe into the conglomerate that has highlighted its governance issues.

Glass Lewis believes that the five candidates, including Osamu Nagayama, the board chairman, and audit committee chairperson Junji Ota, have failed to address Toshiba's alleged misconduct over last year's shareholders meeting.

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