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1. Shard Calculation

Query:

Response:

Calculated Shard: 163 (from laksa177)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa163.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.foxbusiness.com/technology/toshiba-shareholders-reject-plan-to-break-into-two-parts\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.foxbusiness.com/technology/toshiba-shareholders-reject-plan-to-break-into-two-parts\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts","crawl_time":1774977354,"first_indexed_time":1648096539,"http_code":200,"src_unparsed":"com,foxbusiness!www,\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts s443","src_root_hash":"11899573368979483563","history_drop_reason":null,"meta_title":"Toshiba shareholders reject plan to break into two parts | Fox Business","meta_descriptions":["Toshiba Corp.’s shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder."],"attrs_boilerpipe_text":"Toshiba Corp.’s\nshareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder.\nUnder the plan, Toshiba would have spun off its\nelectronic-device business\nand the remaining unit would have focused on energy and infrastructure businesses such as power turbines and water-treatment systems.\nGET FOX BUSINESS ON THE GO BY CLICKING HERE\nThe Japanese industrial conglomerate’s management and foreign shareholders, who hold roughly half the company, have been at odds for years as the shareholders push for higher returns and more extensive restructuring.\nMany foreign investors said ahead of the vote that they didn’t believe the company’s management and board tried hard enough to solicit proposals from private-equity firms to buy all of Toshiba. Such a buyout, though unusual in Japan’s traditional corporate culture, could enable the investors to exit their Toshiba investments relatively quickly with a profit.\n\"We believe this is the last chance to fix Toshiba,\" Farallon Capital Management LLC, one of Toshiba’s major shareholders, said in a statement March 11.\nTOSHIBA NOW PLANS TO SPLIT INTO TWO, BOOSTS SHAREHOLDER RETURN TARGETS\nAfter five years of discord, \"we believe that the only viable option to put an end to the spiral of mistrust and reposition the company for the future is to solicit privatization proposals,\" Farallon said.\nToshiba shares, which were slightly higher before the vote, fell on the news and were down about 3% in afternoon trading Thursday.\nFile photo shows the company logo of Toshiba Corp. displayed in front of its headquarters in Tokyo. (AP Photo\/Koji Sasahara, File)\n((AP Photo\/Koji Sasahara, File) \/ AP Newsroom)\nToshiba management, which originally proposed last November to\nsplit the company into three\nbefore revising the plan, said the\ntwo-way split was the best way\nto maximize corporate value. It called the nonbinding vote Thursday, hoping to get shareholder buy-in for the plan, and said it would respect the results.\nToshiba board members said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company. They said potential buyers were unlikely to offer a good price for the company in its current form because of its diverse mix of businesses, from nuclear power plants to elevators, so it was better to pursue streamlining first.\nIN SURPRISE MOVE, TOSHIBA CEO RESIGNS AMID OPPOSITION TO RESTRUCTURING PLANS\nThursday’s vote exposed a lack of trust between shareholders and the current management and board. Some investors said they were disturbed that Toshiba\nreplaced its chief executive\nthree weeks before the vote.\nFILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan REUTERS\/Kim Kyung-Hoon\nProxy advisory firm Glass Lewis & Co. said ahead of the meeting that it didn’t think the board’s strategic review committee did a thorough job reviewing options and its recommendation \"lacks credibility, veracity and transparency.\"\nThe relationship between Toshiba and foreign shareholders worsened after a report released in June 2021 found\nevidence of broad collaboration\nbetween the Japanese government and the company to stifle foreign shareholders’ voices ahead of an annual shareholder meeting in July 2020. After that,\nshareholders voted to oust\nToshiba’s chairman.\nTicker\nSecurity\nLast\nChange\nChange %\nTOSYY\nNO DATA AVAILABLE\n-\n-\n-\nPowered By\nThe company’s path forward after Thursday’s vote is uncertain, but further changes in the management or board are possible, analysts say, as well as new talks with private-equity investors. In April 2021, Toshiba\nrebuffed a takeover proposal\nfrom private-equity firm CVC Capital Partners, saying it didn’t have enough detail.\nTOSHIBA IN TALKS WITH FOUR INVESTMENT FIRMS FOR STRATEGIC IDEAS\nToshiba shareholders also rejected a proposal submitted by Singapore-based 3D Investment Partners Pte. Ltd., asking the company’s strategic review committee to consider alternatives, including selling the whole company to a private investor. Some shareholders said they didn’t want to give such specific directives to the committee.\nHiroshi Sukegawa, a former Toshiba engineer, attended the shareholder meeting and said he was voting against the company’s breakup plan and for 3D’s proposal.\nCLICK HERE TO READ MORE ON FOX BUSINESS\n\"I don’t like privatization very much, but the process of consideration needs to be transparent,\" said Mr. Sukegawa. \"It’s unclear how the split plan came up.\"\nWrite to\nMegumi Fujikawa at\nmegumi.fujikawa@wsj.com","attrs_markdown":"[Fox Business](https:\/\/www.foxbusiness.com\/)\n\n- [Personal Finance](https:\/\/www.foxbusiness.com\/personal-finance)\n  - [Mortgages](https:\/\/www.foxbusiness.com\/category\/mortgage)\n  - [Student Loans](https:\/\/www.foxbusiness.com\/category\/student-loans)\n  - [Credit Cards](https:\/\/www.foxbusiness.com\/category\/credit-cards)\n  - [Personal Loans](https:\/\/www.foxbusiness.com\/category\/personal-loans)\n  - [Savings](https:\/\/www.foxbusiness.com\/category\/savings)\n  - 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Arrow\n\n[Tech](https:\/\/www.foxbusiness.com\/category\/tech)\n\n**Published**\n\nMarch 24, 2022 12:32am EDT\n# Toshiba shareholders reject plan to break into two parts\n## Some foreign investors in Japanese conglomerate want company to be auctioned to the highest bidder\n- [Facebook](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n- [Twitter](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n- [Threads](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n- [Print](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n- [Email](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n- [Add Fox Business on Google](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n\nBy  Megumi Fujikawa  [Wall Street Journal](https:\/\/www.online.wsj.com\/home-page)\n\n[close](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n\n## [FOX Business Flash top headlines for March 23](https:\/\/www.foxbusiness.com\/video\/6301584856001)\nHere are your FOX Business Flash top headlines for March 23.\n\n[Toshiba Corp.’s](https:\/\/www.foxbusiness.com\/category\/stocks) shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder.\n\nUnder the plan, Toshiba would have spun off its [electronic-device business](https:\/\/www.foxbusiness.com\/category\/technology) and the remaining unit would have focused on energy and infrastructure businesses such as power turbines and water-treatment systems.\n\n[**GET FOX BUSINESS ON THE GO BY CLICKING HERE**](https:\/\/foxbusiness.onelink.me\/Zkcx?pid=AppArticleLink&af_dp=foxbusinesssaf%3A%2F%2F&af_web_dp=https%3A%2F%2Fwww.foxbusiness.com%2Fapps-products)\n\nThe Japanese industrial conglomerate’s management and foreign shareholders, who hold roughly half the company, have been at odds for years as the shareholders push for higher returns and more extensive restructuring.\n\nMany foreign investors said ahead of the vote that they didn’t believe the company’s management and board tried hard enough to solicit proposals from private-equity firms to buy all of Toshiba. Such a buyout, though unusual in Japan’s traditional corporate culture, could enable the investors to exit their Toshiba investments relatively quickly with a profit.\n\n\"We believe this is the last chance to fix Toshiba,\" Farallon Capital Management LLC, one of Toshiba’s major shareholders, said in a statement March 11.\n\n[**TOSHIBA NOW PLANS TO SPLIT INTO TWO, BOOSTS SHAREHOLDER RETURN TARGETS**](https:\/\/www.foxbusiness.com\/markets\/toshiba-plans-split-two-boosts-shareholder-targets)\n\nAfter five years of discord, \"we believe that the only viable option to put an end to the spiral of mistrust and reposition the company for the future is to solicit privatization proposals,\" Farallon said.\n\nToshiba shares, which were slightly higher before the vote, fell on the news and were down about 3% in afternoon trading Thursday.\n\nFile photo shows the company logo of Toshiba Corp. displayed in front of its headquarters in Tokyo. (AP Photo\/Koji Sasahara, File) ((AP Photo\/Koji Sasahara, File) \/ AP Newsroom)\n\nToshiba management, which originally proposed last November to [split the company into three](djml:seo:article\/toshiba-like-ge-plans-to-split-into-three-parts-11636700609) before revising the plan, said the [two-way split was the best way](djml:seo:article\/toshiba-looks-to-split-two-ways-instead-of-three-11644208916) to maximize corporate value. It called the nonbinding vote Thursday, hoping to get shareholder buy-in for the plan, and said it would respect the results.\n\nToshiba board members said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company. They said potential buyers were unlikely to offer a good price for the company in its current form because of its diverse mix of businesses, from nuclear power plants to elevators, so it was better to pursue streamlining first.\n\n[**IN SURPRISE MOVE, TOSHIBA CEO RESIGNS AMID OPPOSITION TO RESTRUCTURING PLANS**](https:\/\/www.foxbusiness.com\/economy\/surprise-toshiba-ceo-resigns-opposition-restructuring-plans)\n\nThursday’s vote exposed a lack of trust between shareholders and the current management and board. Some investors said they were disturbed that Toshiba [replaced its chief executive](djml:seo:article\/toshiba-replaces-ceo-again-but-sticks-with-two-way-split-plan-11646108949) three weeks before the vote.\n\nFILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan REUTERS\/Kim Kyung-Hoon\n\nProxy advisory firm Glass Lewis & Co. said ahead of the meeting that it didn’t think the board’s strategic review committee did a thorough job reviewing options and its recommendation \"lacks credibility, veracity and transparency.\"\n\nThe relationship between Toshiba and foreign shareholders worsened after a report released in June 2021 found [evidence of broad collaboration](djml:seo:article\/toshiba-japan-officials-teamed-up-against-foreign-shareholders-report-finds-11623328715.) between the Japanese government and the company to stifle foreign shareholders’ voices ahead of an annual shareholder meeting in July 2020. After that, [shareholders voted to oust](djml:seo:article\/toshiba-shareholders-oust-chairman-in-landmark-for-foreign-activists-11624593172) Toshiba’s chairman.\n\n| Ticker | Security | Last | Change | Change % |\n|---|---|---|---|---|\n| TOSYY | NO DATA AVAILABLE | \\- | \\- | \\- |\n| Powered By |   |   |   |   |\n\nThe company’s path forward after Thursday’s vote is uncertain, but further changes in the management or board are possible, analysts say, as well as new talks with private-equity investors. In April 2021, Toshiba [rebuffed a takeover proposal](djml:seo:article\/toshiba-rebuffs-cvc-takeover-offer-11618916672) from private-equity firm CVC Capital Partners, saying it didn’t have enough detail.\n\n[**TOSHIBA IN TALKS WITH FOUR INVESTMENT FIRMS FOR STRATEGIC IDEAS**](https:\/\/www.foxbusiness.com\/markets\/toshiba-in-talks-with-four-investment-firms-for-strategic-ideas)\n\nToshiba shareholders also rejected a proposal submitted by Singapore-based 3D Investment Partners Pte. Ltd., asking the company’s strategic review committee to consider alternatives, including selling the whole company to a private investor. Some shareholders said they didn’t want to give such specific directives to the committee.\n\nHiroshi Sukegawa, a former Toshiba engineer, attended the shareholder meeting and said he was voting against the company’s breakup plan and for 3D’s proposal.\n\n[**CLICK HERE TO READ MORE ON FOX BUSINESS**](http:\/\/foxbusiness.com\/)\n\n\"I don’t like privatization very much, but the process of consideration needs to be transparent,\" said Mr. Sukegawa. \"It’s unclear how the split plan came up.\"\n\n**Write to** Megumi Fujikawa at [megumi.fujikawa@wsj.com](mailto:megumi.fujikawa@wsj.com)\n\n## U.S. Stock Market Quotes\nQuotes displayed in real-time\n\nMarket Update sponsored by\n\nAdvertisement\n\nAdvertisement\n\nAdvertisement\n\n![Fox News First](https:\/\/static.foxnews.com\/foxnews.com\/content\/uploads\/2023\/09\/532x120-NEWSLETTER_BIZ-Rundown.png)\n\nArrives Weekly\n\nGet Our Newsletter\n\nGet a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you.\n\nWe've added you to our mailing list.\n\n[Subscribe](https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts)\n\nBy clicking subscribe, you agree to the Fox News [Privacy Policy](https:\/\/www.foxnews.com\/privacy-policy) and [Terms of Use](https:\/\/www.foxnews.com\/terms-of-use), and agree to receive content and promotional communications from Fox News. 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[FAQ](https:\/\/help.foxbusiness.com\/hc\/en-us\/sections\/4405278462107-FAQ) - [New Privacy Policy](https:\/\/www.foxbusiness.com\/privacy-policy)\n\n![](https:\/\/smetrics.foxbusiness.com\/b\/ss\/%25OMNITURE_ACCOUNT_ID%25\/1\/H22.1--NS\/1518822074763?pageName=technology:subsection:article&g=https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts) ![](https:\/\/secure-us.imrworldwide.com\/cgi-bin\/m?ci=us-201978h&cg=0&cc=1&si=https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts&ts=noscript&rnd=1518822074763) ![](https:\/\/sb.scorecardresearch.com\/p?c1=2&c2=9013181&c3=&c4=https:\/\/www.foxbusiness.com\/technology\/toshiba-shareholders-reject-plan-to-break-into-two-parts&c5=&c6=&c15=&cv=2.2&cj=1)\n\n![](https:\/\/pix.pub\/t.png?l=foxnews-pix-fox-news-reach-and-frequency-102d3881-8893-4b5a-879d-accec2535ed1&t=489974.6256642576)","attrs_readable_markdown":"[Toshiba Corp.’s](https:\/\/www.foxbusiness.com\/category\/stocks) shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder.\n\nUnder the plan, Toshiba would have spun off its [electronic-device business](https:\/\/www.foxbusiness.com\/category\/technology) and the remaining unit would have focused on energy and infrastructure businesses such as power turbines and water-treatment systems.\n\n[**GET FOX BUSINESS ON THE GO BY CLICKING HERE**](https:\/\/foxbusiness.onelink.me\/Zkcx?pid=AppArticleLink&af_dp=foxbusinesssaf%3A%2F%2F&af_web_dp=https%3A%2F%2Fwww.foxbusiness.com%2Fapps-products)\n\nThe Japanese industrial conglomerate’s management and foreign shareholders, who hold roughly half the company, have been at odds for years as the shareholders push for higher returns and more extensive restructuring.\n\nMany foreign investors said ahead of the vote that they didn’t believe the company’s management and board tried hard enough to solicit proposals from private-equity firms to buy all of Toshiba. Such a buyout, though unusual in Japan’s traditional corporate culture, could enable the investors to exit their Toshiba investments relatively quickly with a profit.\n\n\"We believe this is the last chance to fix Toshiba,\" Farallon Capital Management LLC, one of Toshiba’s major shareholders, said in a statement March 11.\n\n[**TOSHIBA NOW PLANS TO SPLIT INTO TWO, BOOSTS SHAREHOLDER RETURN TARGETS**](https:\/\/www.foxbusiness.com\/markets\/toshiba-plans-split-two-boosts-shareholder-targets)\n\nAfter five years of discord, \"we believe that the only viable option to put an end to the spiral of mistrust and reposition the company for the future is to solicit privatization proposals,\" Farallon said.\n\nToshiba shares, which were slightly higher before the vote, fell on the news and were down about 3% in afternoon trading Thursday.\n\nFile photo shows the company logo of Toshiba Corp. displayed in front of its headquarters in Tokyo. (AP Photo\/Koji Sasahara, File) ((AP Photo\/Koji Sasahara, File) \/ AP Newsroom)\n\nToshiba management, which originally proposed last November to [split the company into three](djml:seo:article\/toshiba-like-ge-plans-to-split-into-three-parts-11636700609) before revising the plan, said the [two-way split was the best way](djml:seo:article\/toshiba-looks-to-split-two-ways-instead-of-three-11644208916) to maximize corporate value. It called the nonbinding vote Thursday, hoping to get shareholder buy-in for the plan, and said it would respect the results.\n\nToshiba board members said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company. They said potential buyers were unlikely to offer a good price for the company in its current form because of its diverse mix of businesses, from nuclear power plants to elevators, so it was better to pursue streamlining first.\n\n[**IN SURPRISE MOVE, TOSHIBA CEO RESIGNS AMID OPPOSITION TO RESTRUCTURING PLANS**](https:\/\/www.foxbusiness.com\/economy\/surprise-toshiba-ceo-resigns-opposition-restructuring-plans)\n\nThursday’s vote exposed a lack of trust between shareholders and the current management and board. Some investors said they were disturbed that Toshiba [replaced its chief executive](djml:seo:article\/toshiba-replaces-ceo-again-but-sticks-with-two-way-split-plan-11646108949) three weeks before the vote.\n\nFILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan REUTERS\/Kim Kyung-Hoon\n\nProxy advisory firm Glass Lewis & Co. said ahead of the meeting that it didn’t think the board’s strategic review committee did a thorough job reviewing options and its recommendation \"lacks credibility, veracity and transparency.\"\n\nThe relationship between Toshiba and foreign shareholders worsened after a report released in June 2021 found [evidence of broad collaboration](djml:seo:article\/toshiba-japan-officials-teamed-up-against-foreign-shareholders-report-finds-11623328715.) between the Japanese government and the company to stifle foreign shareholders’ voices ahead of an annual shareholder meeting in July 2020. After that, [shareholders voted to oust](djml:seo:article\/toshiba-shareholders-oust-chairman-in-landmark-for-foreign-activists-11624593172) Toshiba’s chairman.\n\n| Ticker | Security | Last | Change | Change % |\n|---|---|---|---|---|\n| TOSYY | NO DATA AVAILABLE | \\- | \\- | \\- |\n| Powered By |   |   |   |   |\n\nThe company’s path forward after Thursday’s vote is uncertain, but further changes in the management or board are possible, analysts say, as well as new talks with private-equity investors. In April 2021, Toshiba [rebuffed a takeover proposal](djml:seo:article\/toshiba-rebuffs-cvc-takeover-offer-11618916672) from private-equity firm CVC Capital Partners, saying it didn’t have enough detail.\n\n[**TOSHIBA IN TALKS WITH FOUR INVESTMENT FIRMS FOR STRATEGIC IDEAS**](https:\/\/www.foxbusiness.com\/markets\/toshiba-in-talks-with-four-investment-firms-for-strategic-ideas)\n\nToshiba shareholders also rejected a proposal submitted by Singapore-based 3D Investment Partners Pte. Ltd., asking the company’s strategic review committee to consider alternatives, including selling the whole company to a private investor. Some shareholders said they didn’t want to give such specific directives to the committee.\n\nHiroshi Sukegawa, a former Toshiba engineer, attended the shareholder meeting and said he was voting against the company’s breakup plan and for 3D’s proposal.\n\n[**CLICK HERE TO READ MORE ON FOX BUSINESS**](http:\/\/foxbusiness.com\/)\n\n\"I don’t like privatization very much, but the process of consideration needs to be transparent,\" said Mr. Sukegawa. \"It’s unclear how the split plan came up.\"\n\n**Write to** Megumi Fujikawa at [megumi.fujikawa@wsj.com](mailto:megumi.fujikawa@wsj.com)","meta_canonical":null}

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Meta Title	Toshiba shareholders reject plan to break into two parts \| Fox Business
Meta Description	Toshiba Corp.’s shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder.
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Boilerpipe Text	Toshiba Corp.’s shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder. Under the plan, Toshiba would have spun off its electronic-device business and the remaining unit would have focused on energy and infrastructure businesses such as power turbines and water-treatment systems. GET FOX BUSINESS ON THE GO BY CLICKING HERE The Japanese industrial conglomerate’s management and foreign shareholders, who hold roughly half the company, have been at odds for years as the shareholders push for higher returns and more extensive restructuring. Many foreign investors said ahead of the vote that they didn’t believe the company’s management and board tried hard enough to solicit proposals from private-equity firms to buy all of Toshiba. Such a buyout, though unusual in Japan’s traditional corporate culture, could enable the investors to exit their Toshiba investments relatively quickly with a profit. "We believe this is the last chance to fix Toshiba," Farallon Capital Management LLC, one of Toshiba’s major shareholders, said in a statement March 11. TOSHIBA NOW PLANS TO SPLIT INTO TWO, BOOSTS SHAREHOLDER RETURN TARGETS After five years of discord, "we believe that the only viable option to put an end to the spiral of mistrust and reposition the company for the future is to solicit privatization proposals," Farallon said. Toshiba shares, which were slightly higher before the vote, fell on the news and were down about 3% in afternoon trading Thursday. File photo shows the company logo of Toshiba Corp. displayed in front of its headquarters in Tokyo. (AP Photo/Koji Sasahara, File) ((AP Photo/Koji Sasahara, File) / AP Newsroom) Toshiba management, which originally proposed last November to split the company into three before revising the plan, said the two-way split was the best way to maximize corporate value. It called the nonbinding vote Thursday, hoping to get shareholder buy-in for the plan, and said it would respect the results. Toshiba board members said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company. They said potential buyers were unlikely to offer a good price for the company in its current form because of its diverse mix of businesses, from nuclear power plants to elevators, so it was better to pursue streamlining first. IN SURPRISE MOVE, TOSHIBA CEO RESIGNS AMID OPPOSITION TO RESTRUCTURING PLANS Thursday’s vote exposed a lack of trust between shareholders and the current management and board. Some investors said they were disturbed that Toshiba replaced its chief executive three weeks before the vote. FILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan REUTERS/Kim Kyung-Hoon Proxy advisory firm Glass Lewis & Co. said ahead of the meeting that it didn’t think the board’s strategic review committee did a thorough job reviewing options and its recommendation "lacks credibility, veracity and transparency." The relationship between Toshiba and foreign shareholders worsened after a report released in June 2021 found evidence of broad collaboration between the Japanese government and the company to stifle foreign shareholders’ voices ahead of an annual shareholder meeting in July 2020. After that, shareholders voted to oust Toshiba’s chairman. Ticker Security Last Change Change % TOSYY NO DATA AVAILABLE - - - Powered By The company’s path forward after Thursday’s vote is uncertain, but further changes in the management or board are possible, analysts say, as well as new talks with private-equity investors. In April 2021, Toshiba rebuffed a takeover proposal from private-equity firm CVC Capital Partners, saying it didn’t have enough detail. TOSHIBA IN TALKS WITH FOUR INVESTMENT FIRMS FOR STRATEGIC IDEAS Toshiba shareholders also rejected a proposal submitted by Singapore-based 3D Investment Partners Pte. Ltd., asking the company’s strategic review committee to consider alternatives, including selling the whole company to a private investor. Some shareholders said they didn’t want to give such specific directives to the committee. Hiroshi Sukegawa, a former Toshiba engineer, attended the shareholder meeting and said he was voting against the company’s breakup plan and for 3D’s proposal. CLICK HERE TO READ MORE ON FOX BUSINESS "I don’t like privatization very much, but the process of consideration needs to be transparent," said Mr. Sukegawa. "It’s unclear how the split plan came up." Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
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[Add Fox Business on Google](https://www.foxbusiness.com/technology/toshiba-shareholders-reject-plan-to-break-into-two-parts) By Megumi Fujikawa [Wall Street Journal](https://www.online.wsj.com/home-page) [close](https://www.foxbusiness.com/technology/toshiba-shareholders-reject-plan-to-break-into-two-parts) ## [FOX Business Flash top headlines for March 23](https://www.foxbusiness.com/video/6301584856001) Here are your FOX Business Flash top headlines for March 23. [Toshiba Corp.’s](https://www.foxbusiness.com/category/stocks) shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder. Under the plan, Toshiba would have spun off its [electronic-device business](https://www.foxbusiness.com/category/technology) and the remaining unit would have focused on energy and infrastructure businesses such as power turbines and water-treatment systems. [GET FOX BUSINESS ON THE GO BY CLICKING HERE](https://foxbusiness.onelink.me/Zkcx?pid=AppArticleLink&af_dp=foxbusinesssaf%3A%2F%2F&af_web_dp=https%3A%2F%2Fwww.foxbusiness.com%2Fapps-products) The Japanese industrial conglomerate’s management and foreign shareholders, who hold roughly half the company, have been at odds for years as the shareholders push for higher returns and more extensive restructuring. Many foreign investors said ahead of the vote that they didn’t believe the company’s management and board tried hard enough to solicit proposals from private-equity firms to buy all of Toshiba. Such a buyout, though unusual in Japan’s traditional corporate culture, could enable the investors to exit their Toshiba investments relatively quickly with a profit. "We believe this is the last chance to fix Toshiba," Farallon Capital Management LLC, one of Toshiba’s major shareholders, said in a statement March 11. [TOSHIBA NOW PLANS TO SPLIT INTO TWO, BOOSTS SHAREHOLDER RETURN TARGETS](https://www.foxbusiness.com/markets/toshiba-plans-split-two-boosts-shareholder-targets) After five years of discord, "we believe that the only viable option to put an end to the spiral of mistrust and reposition the company for the future is to solicit privatization proposals," Farallon said. Toshiba shares, which were slightly higher before the vote, fell on the news and were down about 3% in afternoon trading Thursday. File photo shows the company logo of Toshiba Corp. displayed in front of its headquarters in Tokyo. (AP Photo/Koji Sasahara, File) ((AP Photo/Koji Sasahara, File) / AP Newsroom) Toshiba management, which originally proposed last November to [split the company into three](djml:seo:article/toshiba-like-ge-plans-to-split-into-three-parts-11636700609) before revising the plan, said the [two-way split was the best way](djml:seo:article/toshiba-looks-to-split-two-ways-instead-of-three-11644208916) to maximize corporate value. It called the nonbinding vote Thursday, hoping to get shareholder buy-in for the plan, and said it would respect the results. Toshiba board members said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company. They said potential buyers were unlikely to offer a good price for the company in its current form because of its diverse mix of businesses, from nuclear power plants to elevators, so it was better to pursue streamlining first. [IN SURPRISE MOVE, TOSHIBA CEO RESIGNS AMID OPPOSITION TO RESTRUCTURING PLANS](https://www.foxbusiness.com/economy/surprise-toshiba-ceo-resigns-opposition-restructuring-plans) Thursday’s vote exposed a lack of trust between shareholders and the current management and board. Some investors said they were disturbed that Toshiba [replaced its chief executive](djml:seo:article/toshiba-replaces-ceo-again-but-sticks-with-two-way-split-plan-11646108949) three weeks before the vote. FILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan REUTERS/Kim Kyung-Hoon Proxy advisory firm Glass Lewis & Co. said ahead of the meeting that it didn’t think the board’s strategic review committee did a thorough job reviewing options and its recommendation "lacks credibility, veracity and transparency." The relationship between Toshiba and foreign shareholders worsened after a report released in June 2021 found [evidence of broad collaboration](djml:seo:article/toshiba-japan-officials-teamed-up-against-foreign-shareholders-report-finds-11623328715.) between the Japanese government and the company to stifle foreign shareholders’ voices ahead of an annual shareholder meeting in July 2020. After that, [shareholders voted to oust](djml:seo:article/toshiba-shareholders-oust-chairman-in-landmark-for-foreign-activists-11624593172) Toshiba’s chairman. \| Ticker \| Security \| Last \| Change \| Change % \| \|---\|---\|---\|---\|---\| \| TOSYY \| NO DATA AVAILABLE \| \- \| \- \| \- \| \| Powered By \| \| \| \| \| The company’s path forward after Thursday’s vote is uncertain, but further changes in the management or board are possible, analysts say, as well as new talks with private-equity investors. In April 2021, Toshiba [rebuffed a takeover proposal](djml:seo:article/toshiba-rebuffs-cvc-takeover-offer-11618916672) from private-equity firm CVC Capital Partners, saying it didn’t have enough detail. [TOSHIBA IN TALKS WITH FOUR INVESTMENT FIRMS FOR STRATEGIC IDEAS](https://www.foxbusiness.com/markets/toshiba-in-talks-with-four-investment-firms-for-strategic-ideas) Toshiba shareholders also rejected a proposal submitted by Singapore-based 3D Investment Partners Pte. Ltd., asking the company’s strategic review committee to consider alternatives, including selling the whole company to a private investor. Some shareholders said they didn’t want to give such specific directives to the committee. Hiroshi Sukegawa, a former Toshiba engineer, attended the shareholder meeting and said he was voting against the company’s breakup plan and for 3D’s proposal. [CLICK HERE TO READ MORE ON FOX BUSINESS](http://foxbusiness.com/) "I don’t like privatization very much, but the process of consideration needs to be transparent," said Mr. Sukegawa. "It’s unclear how the split plan came up." Write to Megumi Fujikawa at [megumi.fujikawa@wsj.com](mailto:megumi.fujikawa@wsj.com) ## U.S. Stock Market Quotes Quotes displayed in real-time Market Update sponsored by Advertisement Advertisement Advertisement ![Fox News First](https://static.foxnews.com/foxnews.com/content/uploads/2023/09/532x120-NEWSLETTER_BIZ-Rundown.png) Arrives Weekly Get Our Newsletter Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you. We've added you to our mailing list. [Subscribe](https://www.foxbusiness.com/technology/toshiba-shareholders-reject-plan-to-break-into-two-parts) By clicking subscribe, you agree to the Fox News [Privacy Policy](https://www.foxnews.com/privacy-policy) and [Terms of Use](https://www.foxnews.com/terms-of-use), and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time. 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Readable Markdown	[Toshiba Corp.’s](https://www.foxbusiness.com/category/stocks) shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders including some who want the company to be auctioned to the highest bidder. Under the plan, Toshiba would have spun off its [electronic-device business](https://www.foxbusiness.com/category/technology) and the remaining unit would have focused on energy and infrastructure businesses such as power turbines and water-treatment systems. [GET FOX BUSINESS ON THE GO BY CLICKING HERE](https://foxbusiness.onelink.me/Zkcx?pid=AppArticleLink&af_dp=foxbusinesssaf%3A%2F%2F&af_web_dp=https%3A%2F%2Fwww.foxbusiness.com%2Fapps-products) The Japanese industrial conglomerate’s management and foreign shareholders, who hold roughly half the company, have been at odds for years as the shareholders push for higher returns and more extensive restructuring. Many foreign investors said ahead of the vote that they didn’t believe the company’s management and board tried hard enough to solicit proposals from private-equity firms to buy all of Toshiba. Such a buyout, though unusual in Japan’s traditional corporate culture, could enable the investors to exit their Toshiba investments relatively quickly with a profit. "We believe this is the last chance to fix Toshiba," Farallon Capital Management LLC, one of Toshiba’s major shareholders, said in a statement March 11. [TOSHIBA NOW PLANS TO SPLIT INTO TWO, BOOSTS SHAREHOLDER RETURN TARGETS](https://www.foxbusiness.com/markets/toshiba-plans-split-two-boosts-shareholder-targets) After five years of discord, "we believe that the only viable option to put an end to the spiral of mistrust and reposition the company for the future is to solicit privatization proposals," Farallon said. Toshiba shares, which were slightly higher before the vote, fell on the news and were down about 3% in afternoon trading Thursday. File photo shows the company logo of Toshiba Corp. displayed in front of its headquarters in Tokyo. (AP Photo/Koji Sasahara, File) ((AP Photo/Koji Sasahara, File) / AP Newsroom) Toshiba management, which originally proposed last November to [split the company into three](djml:seo:article/toshiba-like-ge-plans-to-split-into-three-parts-11636700609) before revising the plan, said the [two-way split was the best way](djml:seo:article/toshiba-looks-to-split-two-ways-instead-of-three-11644208916) to maximize corporate value. It called the nonbinding vote Thursday, hoping to get shareholder buy-in for the plan, and said it would respect the results. Toshiba board members said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company. They said potential buyers were unlikely to offer a good price for the company in its current form because of its diverse mix of businesses, from nuclear power plants to elevators, so it was better to pursue streamlining first. [IN SURPRISE MOVE, TOSHIBA CEO RESIGNS AMID OPPOSITION TO RESTRUCTURING PLANS](https://www.foxbusiness.com/economy/surprise-toshiba-ceo-resigns-opposition-restructuring-plans) Thursday’s vote exposed a lack of trust between shareholders and the current management and board. Some investors said they were disturbed that Toshiba [replaced its chief executive](djml:seo:article/toshiba-replaces-ceo-again-but-sticks-with-two-way-split-plan-11646108949) three weeks before the vote. FILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan REUTERS/Kim Kyung-Hoon Proxy advisory firm Glass Lewis & Co. said ahead of the meeting that it didn’t think the board’s strategic review committee did a thorough job reviewing options and its recommendation "lacks credibility, veracity and transparency." The relationship between Toshiba and foreign shareholders worsened after a report released in June 2021 found [evidence of broad collaboration](djml:seo:article/toshiba-japan-officials-teamed-up-against-foreign-shareholders-report-finds-11623328715.) between the Japanese government and the company to stifle foreign shareholders’ voices ahead of an annual shareholder meeting in July 2020. After that, [shareholders voted to oust](djml:seo:article/toshiba-shareholders-oust-chairman-in-landmark-for-foreign-activists-11624593172) Toshiba’s chairman. \| Ticker \| Security \| Last \| Change \| Change % \| \|---\|---\|---\|---\|---\| \| TOSYY \| NO DATA AVAILABLE \| \- \| \- \| \- \| \| Powered By \| \| \| \| \| The company’s path forward after Thursday’s vote is uncertain, but further changes in the management or board are possible, analysts say, as well as new talks with private-equity investors. In April 2021, Toshiba [rebuffed a takeover proposal](djml:seo:article/toshiba-rebuffs-cvc-takeover-offer-11618916672) from private-equity firm CVC Capital Partners, saying it didn’t have enough detail. [TOSHIBA IN TALKS WITH FOUR INVESTMENT FIRMS FOR STRATEGIC IDEAS](https://www.foxbusiness.com/markets/toshiba-in-talks-with-four-investment-firms-for-strategic-ideas) Toshiba shareholders also rejected a proposal submitted by Singapore-based 3D Investment Partners Pte. Ltd., asking the company’s strategic review committee to consider alternatives, including selling the whole company to a private investor. Some shareholders said they didn’t want to give such specific directives to the committee. Hiroshi Sukegawa, a former Toshiba engineer, attended the shareholder meeting and said he was voting against the company’s breakup plan and for 3D’s proposal. [CLICK HERE TO READ MORE ON FOX BUSINESS](http://foxbusiness.com/) "I don’t like privatization very much, but the process of consideration needs to be transparent," said Mr. Sukegawa. "It’s unclear how the split plan came up." Write to Megumi Fujikawa at [megumi.fujikawa@wsj.com](mailto:megumi.fujikawa@wsj.com)
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