Toyo shareholders support board backed by Nintendo founder's family office

TOKYO : Shareholders of Japan's Toyo Construction on Tuesday approved seven of nine directors backed by the family office linked to Nintendo's founder, allowing these directors to form a majority of the board.

At Toyo's annual general meeting, shareholders voted in favour of just six out of 11 director nominees backed by the company, including a senior company executive that Toyo was planning to appoint as president. It took about nine months for the company to form a special committee to assess YFO's proposal, which YFO criticised as acting against shareholders' interest.

Source: Gaming Daily Report (gamingdailyreport.net)

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