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Toshiba Corp.

Ticker: 6502

Meeting date: 25/06/2021

Meeting type: Annual

Proposal Mgt rec Vote
Management proposals
1.1 Proposal Elect Director Tsunakawa, Satoshi Mgt rec For Vote For
1.2 Proposal Elect Director Nagayama, Osamu Vote rationale: Shareholders should have the right to seek changes to the board when it does not act in their best interest. We will consider whether the board has failed to act on material requests from shareholders, sought to circumvent shareholder proposals or implemented governance changes limiting shareholders’ rights without their approval. When voting on a proposal to discharge the board of responsibilities, we will consider whether any information raises reasonable doubt about the board’s actions. We will also take into considerations unsatisfactory financial and strategic performance, mismanaged risk-taking, unacceptable treatment of stakeholders or undesired environmental or social outcomes from company operations. Global Voting Guidelines Mgt rec For Vote Against
1.3 Proposal Elect Director Ota, Junji Vote rationale: Voting item has been withdrawn Global Voting Guidelines Mgt rec For Vote Abstain
1.4 Proposal Elect Director Kobayashi, Nobuyuki Vote rationale: Shareholders should have the right to seek changes to the board when it does not act in their best interest. We will consider whether the board has failed to act on material requests from shareholders, sought to circumvent shareholder proposals or implemented governance changes limiting shareholders’ rights without their approval. When voting on a proposal to discharge the board of responsibilities, we will consider whether any information raises reasonable doubt about the board’s actions. We will also take into considerations unsatisfactory financial and strategic performance, mismanaged risk-taking, unacceptable treatment of stakeholders or undesired environmental or social outcomes from company operations. Global Voting Guidelines Mgt rec For Vote Against
1.5 Proposal Elect Director Yamauchi, Takashi Vote rationale: Voting item has been withdrawn Global Voting Guidelines Mgt rec For Vote Abstain
1.6 Proposal Elect Director Paul J. Brough Mgt rec For Vote For
1.7 Proposal Elect Director Ayako Hirota Weissman Mgt rec For Vote For
1.8 Proposal Elect Director Jerome Thomas Black Mgt rec For Vote For
1.9 Proposal Elect Director George Raymond Zage III Mgt rec For Vote For
1.10 Proposal Elect Director Watahiki, Mariko Mgt rec For Vote For
1.11 Proposal Elect Director George Olcott Mgt rec For Vote For
1.12 Proposal Elect Director Hashimoto, Katsunori Mgt rec For Vote For
1.13 Proposal Elect Director Hatazawa, Mamoru Mgt rec For Vote For

Disclaimer

This page contains certain information as to the voting intentions of Norges Bank in its role as manager of the Government Pension Fund Global. This disclosure is provided to promote transparency as to Norges Bank’s engagement with investee companies, and in view of its approach to responsible investing. Norges Bank’s voting intention is an internal decision and has not been agreed with any third party. Please note the following:

  • This disclosure is provided for information purposes only. It does not constitute advice and should not be taken as a recommendation or an instruction on any matter, including whether any relevant third party should buy, sell or retain shares, or how any third party should exercise any voting rights they may have. Any person who wishes to obtain advice should seek this from a professional adviser. This disclosure is not a proxy solicitation and is not intended to influence the vote of other shareholders.
  • No reliance should be placed on this information or its accuracy, and Norges Bank accepts no responsibility or liability for any action taken or not taken on the basis of this information. Any relevant third party should form their own views based on their own analysis of the relevant facts and circumstances.
  • To be clear, Norges Bank has no duty of care in respect of any third party who decides to view this disclosure, which shall be done entirely at their own risk.
  • Any information in this disclosure is subject to change without notice. In particular, be aware that Norges Bank’s intentions and the holdings of the Government Pension Fund Global may change over time and, to the extent permitted by applicable law, Norges Bank disclaims any responsibility to update this information as a result of such changes or for any other reason.
  • Securities lending or other activity may mean that the votes cast by Norges Bank are significantly different than its economic or published holding of shares, or significantly different from its holding at the date of this disclosure. No assumption should be made or reliance placed on the number of votes that will be cast.
  • Norges Bank is not subject to any prohibition on securities lending, trading or other activity as a result of this disclosure at any point prior to or after the publication of this disclosure.
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