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Toshiba in turmoil

U.S. advisory company opposes Toshiba divestment plan

Institutional Shareholder Services also asks investors to nix shareholder proposal

ISS wants Toshiba shareholders and the company to reconsider measures to be tabled at a meeting later this month. (Source photos by Reuters and AP)

TOKYO -- Institutional Shareholder Services, a U.S.-based proxy advisory business, has recommended that Toshiba shareholders oppose the company's divestiture plan at the upcoming extraordinary shareholder meeting on March 24, Nikkei has learned.

It has also recommended voting against a shareholder proposal that calls for the company to reconsider measures to boost value.

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