A common assembly of shareholders of Toyo Construction Co., Ltd., which handles civil engineering work for harbors, was held in Tokyo, and because of deliberating on the election of director candidates submitted by the corporate and the asset administration firm, which is a serious shareholder, the director candidates independently really helpful by the most important shareholders. Seven out of 9 have been voted in favor and elected.
On the opposite hand, solely six of the 11 director candidates proposed by the corporate have been appointed.
As a outcome, seven of the 13 individuals appointed as administrators, greater than half, have been administrators proposed by main shareholders.
The asset administration firm, which is a serious shareholder, made a takeover provide to the corporate final 12 months, however the firm confirmed a stance towards this.
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