Toshiba flounders as shareholders again reject reform plan

A majority of Toshiba Corp. shareholders on Thursday rejected a management proposal to split the Japanese conglomerate into two listed companies, leaving the company floundering as it aims to reform its image following a string of scandals.Toshiba, a household name in Japan with a nearly 150-year history, had sought support for the new reform plan at an extraordinary shareholders' meeting after its earlier plan to divide into three was met with opposition.The outcome of the vote is not legally binding but indicates likely rejection when the company holds a planned regular shareholders' meet…READ FULL ARTICLE