URGENT: Shareholders reject plan to split Toshiba into 2 companies

© Kyodo News

A majority at an extraordinary shareholders' meeting Thursday rejected a plan proposed by Toshiba Corp. to split it into two listed companies.

Toshiba, a Japanese household name with a nearly 150-year history, had sought support for the new reform plan after its earlier proposal to divide into three was met with opposition from some major shareholders.

The outcome of the vote is not legally binding but indicates likely rejection when the company plans to hold a regular shareholders' meeting in June for a final decision.