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Toshiba shareholders reject split plan and private sale

lglethal Silver badge
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Do my eyes deceive me? Shareholders turning down a short term cash bonus and instead focusing on the long term health of the company? Surely that cannot be the case!!!

"A key element of the split plan was selling its very valuable stake in memory-maker Kioxia and using that cash to reward shareholders". I will never understand this thinking from management (except for in the cases where management get bonuses based on getting the share price up regardless of long term consequences). You have a highly valuable, highly profitable part of the company, and you want to sell it just to give cash to the shareholders. So in future you will have less profits and less cash, just to make a quick buck now? Insanity. Selling a loss making portion of the business I can understand (assuming some other company thinks they can start turning a profit on it), but valuable and profitable parts of the company, ridiculous...

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