Tokyo News 2006.6.30

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"Common Day" of the Stock Holders Meeting...One Scene

On June 29, the common day of the Stock Holders Meetings , 1500 companies throughout Japan held their meetings. The "Singer Song Fighter" who appeared in our series about heretics attended the stock holders meeting of OK company, the company he used to work for. A new company law was enforced, but what is the actual view of the dissenting stock holders?

Exclusion leads to confusion after first 80 minutes

"Get Out Please"

A stock holders meeting of one of the big communications companies was held in Tokyo on 29 June began at 10.00am. The subjects of personnel changes, management reports and memorandum changes went smoothly. But after one hour and twenty minutes the scene changed to one of confusion because of the words of the President, who acted as chairman, "get out please!"

The person who was ordered to get out was Tetsuro Tanaka, 58, who had been an engineer in the company. The company dismissed 1350 employees in 1978. Mr. Tanaka continued to support those fired and was himself fired in 1981 because he refused a transfer order to the Department of Business which was outside of his field.

He continued to protest in front of the company's gate from the day after he was fired, by playing guitar and asking for his job back. After 1987 Tanaka attended meetings as a stock holder after buying stock himself. He criticized the company's management policies. For the company he is a stock holder thorn in their side.

A stock holder told us that the meeting room only had the capacity of less than 250, yet more than thirty guards were installed in this room. The atmosphere in the room was very tense even before the opening. An unknown number of plain clothes police were also in attendance. During the meeting the President admitted to the presence of police "for the protection of the stock holders and for the smooth running of the meeting".

The confusion was started by Tanaka's question. A stock holder later said "Tanaka made two points in his question, how did the company respond to discrimination in the workplace? and company's involvement with other communications companies the bid-rigging case. and asked the President's opinion".

For those questions the President replied that "Neither point is related to the subject of the stock holders meeting, so I refuse to answer them" The President tried to proceed with the meeting despite Mr. Tanaka's objection "You haven't answered my question".

Mr. Tanaka continued to insist on an answer using a microphone which he had brought in. The President warned him repeatedly that if he continued to interrupt he would have to leave the meeting. Finally he ordered Mr. Tanaka to leave.

Today the court will decide on exclusion

The report from other stock holders at the meeting is vivid. 'Mr. Tanaka fell to the floor and tried protect himself against the force of many guards'. 'In the room the protesting voice of Mr. Tanaka could be heard saying "It hurts. Stop the violence'' On the other hand stock holders who had been mobilized by the company shouted "Kick him out soon" and "Proceed with the meeting". Finally Mr. Tanaka was carried out of the room being held by the arms and legs after fifteen minutes of struggling'.

Soon after the drama of being kicked out another stock holder made a motion to quickly finish the meeting. It finished while other stock holders demanded it should be managed democratically.

For Mr. Tanaka it was the fifth time he had been kicked out of the stock holders meeting. The kicking out case of 2002 was taken to court, seeking compensation damages against the company, against the violation of the rights of stock holders. The decision will be handed down by Hachioji District Court today June 30.

Tanaka came out of the meeting room shaking with anger because of the violence. "People say stock holders meetings have changed, but this company only holds meetings because commercial law forces them to do so. The head quarters only thoughts are to finish as soon as possible".