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Toyota Motor Shareholders Reportedly Urged by ISS to Withhold Support for Chair's Reelection
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Toyota Motor Shareholders Reportedly Urged by ISS to Withhold Support for Chair's Reelection
May 28, 2024 11:17 AM

01:51 PM EDT, 05/28/2024 (MT Newswires) -- Toyota Motor ( TM ) shareholders were urged by proxy advisory firm Institutional Shareholder Services to vote against the reelection of Chairman Akio Toyoda to the board, media reports said Tuesday.

ISS cited "a spate of certification irregularities" such as improper vehicle testing by subsidiary Daihatsu Motor and regulatory violations by Toyota ( TM ) group affiliates Hino Motors and Toyota Industries, Bloomberg reported.

No one at Toyota ( TM ) was immediately available to comment, Reuters said.

Toyota ( TM ) and ISS didn't immediately respond to requests for comment by MT Newswires.

Toyota ( TM ) is set to hold its annual shareholders meeting in mid-June.

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