Seibu Railway shareholders OK plan to reorganize group operation

TOKOROZAWA, Japan - President Takashi Goto (C) and other management members of Seibu Railway Co. bow to shareholders at the beginning of an extraordinary shareholders general meeting in Tokorozawa, Saitama Prefecture, on Dec. 21. The meeting endorsed a plan to reorganize the company's group operations under a holding firm, a move that will end control of the railway and resort conglomerate by Kokudo Corp. and business tycoon Yoshiaki Tsutsumi, who has received a suspended prison term for insider trading and falsifying statements. (Kyodo)

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