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It appears as though Japanese government officials are interested in trying their hand in activist investing.
Article from Zero Hedge.
At least, that’s the conclusion we drew after one senior member of Japan’s ruling party spoke out against activist investors in Toshiba, accusing them of looking for short-term profits. The lawmaker, Akira Amari, also called for more regulation to protect investors’ “economic security” in the case of activists, Reuters reported.
It’s certainly an interesting target for Amari to defend, as Toshiba has been under fire due to numerous accounting scandals dating all the way back to 2015. The company has also faced “massive writedowns” for its U.S. nuclear business and the sale of its semiconductor unit, the report notes.
Amari is a former economy minister and an influential lawmaker in the ruling Liberal Democratic Party. Amari’s criticism follows an investigation this month which revealed that “Toshiba’s management colluded with the government to put pressure on foreign activist investors to support the management.”
The investigation was commissioned by Toshiba shareholders.
“There should be strict monitoring. We need to watch carefully so that Japan’s security is not threatened,” Amari told Reuters, calling it “not right” that Toshiba was reliant on short-term activist investors.
Amari commented: “Activist investors only think about selling high.”
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Yeah, come to think of it, investors should really think about driving the price of stock they own lower, and then selling, from now on.
Meanwhile, Toshiba has said that it would change its board director nominees and that two of its audit committee members would step down. The investigation “alleged [the board] failed to take action even when it became aware of Toshiba’s attempt to prevent shareholders from exercising their rights.”
Japan put forth new foreign ownership rules in 2020 with the specific aim of protecting companies that are critical to the country’s national security. Amari has said that Japanese investors, not foreign activists, should have stepped up to invest in Toshiba and save the company.
Perhaps someone should inform Amari that there very likely may have been no appetite for shares of the scandal-ridden company from within its home country.
But that would require explaining reality to a politician, which is too tall of a task to even contemplate. As such, we digress…
New Conservative Network Seeks Crowdfunding Help
They say we have to go big or go home. We’re trying to go big and bring the patriotic truth the the nation, but we need help.
Readers may or may not realize that over the past year, we’ve been bringing more conservative news and opinion outlets under our wing. Don’t take our expansion as a sign of riches; all of the “acquisitions” have been through sweat and promises of greater things to come for all involved. As a result, we’ve been able to bring together several independent media sites under a unified vision of preventing America from succumbing to the progressive, “woke,” Neo-Marxist ideologies that are spreading like wildfire across America.
The slow and steady reopening of America is revealing there was a lot more economic hardship brought about from the Covd-19 lockdowns than most realize. While we continue to hope advertising dollars on the sites go up, it’s simply not enough to do things the right way. We are currently experiencing a gap between revenue and expenses that cannot be overcome by click-ads and MyPillow promos alone (promo code “NOQ” by the way).
To overcome our revenue gap and keep these sites running, our needs fluctuate between $3000-$7000 per month. In other words, we’re in the red and hemorrhaging.
We don’t allow Google ads here. We won’t post foot fungus treatments or soft-porn ads like other conservative news outlets. We WILL support MyPillow because they love America. You can support them and me by using promo code “JDR” at checkout.
The best way you can help us grow and continue to bring the truth to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well.
As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going.
Thank you and God Bless,
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We just launched a GiveSendGo page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!