The depth of collusion between Toshiba, the Japanese government and the former investment head of the world’s biggest pension fund to influence board nominations last year has been laid bare by an independent probe.

A 147-page report released on Thursday details the collaboration between the company and the government and alleges that Japanese prime minister Yoshihide Suga, who was chief cabinet secretary at the time, received updates on activists’ campaigns ahead of the July 2020 annual meeting, which it ultimately concluded was “not fairly managed”.

Based on text messages, emails and other correspondence, the report describes how senior figures at the Ministry of Economy, Trade and Industry collaborated with Toshiba’s senior management to prevent executives being voted out of their positions. The investigators conclude that the plot included “acts suspected to be against laws” and represented an attempt to unfairly restrict the exercise of shareholder rights.