7. - This is short summary of what actually happened. Inaba selected to make some changes, but they fell short of what Loeb was pushing for. The following changes were made: (1) March 13, 2014 - Creation of a shareholder relations department (ii) April 27, 2014 - FANUC announced it would double its payout ratio from 30% to 60%, consider share buybacks to raise payout ratios to 80% and cancel Treasury shares above 5% of total shares issues among other changes. (iii) February 2016 - Repurchase of up to 2 million shares. (iv) April 2016 - FANUC stated that one of the company's senior VPs would become heir apparent rather than Mr. Inaba's son. Changes that Loeb pushed for that were not made include among others appointing a majority of independent directors and increasing leverage. How would you explain the performance of FANUC given the changes Mr. Inaba made to FANUC's corporate governance? Did Mr. Inaba do the right thing? 7. - This is short summary of what actually happened. Inaba selected to make some changes, but they fell short of what Loeb was pushing for. The following changes were made: (1) March 13, 2014 - Creation of a shareholder relations department (ii) April 27, 2014 - FANUC announced it would double its payout ratio from 30% to 60%, consider share buybacks to raise payout ratios to 80% and cancel Treasury shares above 5% of total shares issues among other changes. (iii) February 2016 - Repurchase of up to 2 million shares. (iv) April 2016 - FANUC stated that one of the company's senior VPs would become heir apparent rather than Mr. Inaba's son. Changes that Loeb pushed for that were not made include among others appointing a majority of independent directors and increasing leverage. How would you explain the performance of FANUC given the changes Mr. Inaba made to FANUC's corporate governance? Did Mr. Inaba do the right thing