OREANDA-NEWS. Kawasaki Heavy Industries Ltd. held its general shareholders meeting on Wednesday in Kobe, Hyogo Prefecture.

Two weeks earlier the heavy machinery maker ended merger talks with Mitsui Engineering & Shipbuilding Co., dismissing three directors, including Satoshi Hasegawa, the former pro-merger president of Kawasaki Heavy, following a boardroom revolt.

President Shigeru Murayama, who was against the merger, said in his remarks that he decided that the merger would not lead to improving the company's corporate value after considering all advantages and disadvantages. However, Murayama avoided revealing background details of the merger talks. All dismissed directors were absent from the shareholders meeting.

The 1,016 shareholders present at the meeting was a new record for the company. Last year 818 shareholders attended the meeting.