AsiaNet  84875

SAN FRANCISCO, July 22, 2020 /PRNewswire=KYODO JBN/ --

Farallon Capital Management, L.L.C., on behalf of its managed funds and

accounts ("Farallon"), today announced that it plans to vote for the

shareholder proposals to Toshiba Corporation (Code: 6502) ("Toshiba") at

Toshiba's 181st Annual General Meeting (Proposal No. 3 and No.4) (the

"Shareholder Proposals").

Farallon has been a large shareholder of Toshiba since 2017 and has sought to

maintain a continuous and constructive engagement with Toshiba's management

team during this time. Farallon believes in Toshiba's potential and hopes that

Toshiba will continue to take steps to maximize value for stakeholders in

accordance with the company's "Toshiba Next Plan."

Based on Farallon's review of publicly available information, including the

information included in the Shareholder Proposals, Farallon believes that it is

important that Toshiba seek to further strengthen its corporate governance

framework in the interests of all stakeholders.  Farallon has accordingly

concluded that it will support the election of the new director candidates in

the Shareholder Proposals.  Farallon hopes that the director candidates, if

elected, will provide valuable experience and perspective to the Board and

management with a view to enabling mid- to long-term value creation in

accordance with the Toshiba Next Plan.  

About Farallon

Farallon Capital Management, L.L.C., is a global investment firm founded in

1986 and registered as an investment advisor with the United States Securities

and Exchange Commission since 1990.  Farallon seeks investments across asset

classes and around the world through a process of bottom-up fundamental

research and analysis emphasizing capital preservation.  More information on

Farallon is available at www.faralloncapital.com.

[Disclaimer]

This press release should not be construed as soliciting any other shareholders

of Toshiba to authorize Farallon or any third party to exercise voting rights

on such shareholder's behalf with respect to any matter to be presented to

shareholders at Toshiba's Annual General Meeting for its 181st fiscal period.

This press release is not intended, and should not be considered to solicit,

encourage, induce or seek for any other shareholders of Toshiba to authorize

Farallon or any other third party as their proxy in exercising their voting

rights on their behalf.

Farallon is not soliciting or requesting any other shareholders of Toshiba to

jointly exercise their shareholders' rights with Farallon (including, but not

limited to, voting rights).  Farallon declares that it does not intend to be

treated or deemed a "joint holder" (kyo-do hoyu-sha) with any other

shareholders of Toshiba under the Japanese Financial Instruments and Exchange

Act.

SOURCE  Farallon Capital Management, L.L.C.

CONTACT: Media Gain, info@mediagain.co.jp