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Toshiba in turmoil

Toshiba shareholders vote down company's breakup plan

Activist call for privatization also rejected; management vows to push reforms

Shareholders enter the venue of Toshiba's extraordinary general meeting in Tokyo on March 24. (Photo by Yo Inoue)

TOKYO -- Toshiba shareholders on Thursday rejected a proposal to split the Japanese company into two public entities in a setback for management and a major win for foreign activist shareholders.

Following the vote, new Toshiba CEO Taro Shimada said, "We are going to consider all options that will improve the value of our company."

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