King Street is one of the biggest shareholders in Toshiba, amassing a 5.2% stake, according to a regulatory filing on May 29. The relationship between Toshiba and its non-Japanese shareholders could be an indicator of how shareholder activism is changing company management in Japan. The names of the director candidates proposed by King Street and the hedge fund’s rationale for seeking a board shake-up couldn’t be learned. One person with knowledge of a letter sent by King Street to Toshiba said it was a friendly approach. Some foreign investors think he should do a bigger share buyback and carry it out more quickly.

Source: Wall Street Journal August 31, 2018 05:24 UTC