It is interesting
that, with so much disregard to American corporate management policies, that Japan has taken the cake for recent corporate scandals.
Toshiba shareholders voted to oust chairman Osamu Nagayama and a member of the company's audit committee, Nobuyuki Kobayashi, during their annual general meeting. Nagayama was at the helm during a recent scandal in which an activist investor alleged that Toshiba's execs had conspired with the Japanese government to pressure …
The problem for Toshiba OBN and the Ministry of Economy, Trade and Industry (METI) is that Toshiba accepted the investment money in the first place.
From another perspective, Toshiba's problem was getting involved buying Westinghouse and its modern design AP1000 nuclear program in the US, which after over a decade and billions in investment in half finished plants went belly up in 2017 without a single reactor running - pushing Toshiba over the edge at the same time. Other than the decision to invest in Westinghouse, none of that was Toshiba's fault or under their control. China picked up the pieces and now of course have 4 AP1000's running online, and have begun on the AP1400's.
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