Key Toshiba shareholder objects to 3-way breakup

3D Investment says review committee 'relented' to dubious management concerns

Toshiba should provide due diligence materials to interested parties and seek alternative proposals to its breakup, 3D Investment said. © Reuters

TAKAYUKI YAO, Nikkei staff writer

November 25, 2021 03:54 JST

TOKYO -- Major Toshiba shareholder 3D Investment Partners will not support the industrial group's plans to split into three independent companies, the Singapore-based asset manager said Wednesday, citing an inadequate review process leading up to the decision.

Toshiba's strategic review committee "did not objectively consider a full range of alternatives," 3D Investment said in an open letter to Toshiba's board.