Toshiba Corp. will replace two board members as demanded by shareholders seeking a corporate shake up after a recent independent investigation uncovered unfair practices.

The company said Monday it will no longer recommend Junji Ota and Takashi Yamauchi for another term. Toshiba said it won't retain executive officers Masayasu Toyohara and Masaharu Kamo.

The company discovered discrepancies in how some board members were selected. An independent investigation showed some members sought the help of government officials to influence shareholder votes.

Toshiba said the "unfair practices" prevented shareholders from exercising their voting rights. According to a 139-page report overseen by three lawyers, some members allegedly worked with Japan's trade ministry to sway shareholder votes.

"We are taking points made by the lawyers seriously and committed to find out, with help from outsiders, and report what happened promptly with as much transparency as we can," Toshiba said.

Institutional Shareholder Services, an advisory company working with Toshiba, recommended the company dismiss five members.

3D Investment Partners - the company's third-largest shareholder - claimed it was pressured by the trade ministry during the last vote. 3D Investment said it was "not fairly managed." 3D Investment demanded the resignation of four directors.

Japan trade minister Hiroshi Kajiyama denied allegations he worked with a former senior adviser Hiromichi Mizuno on the voting. Kajiyama said the ministry would conduct its own investigation.

The independent investigation was launched after a proposal by Toshiba's largest shareholder, Singapore-based Effissimo Capital Management. The proposal was approved in March and ignited a standoff between the fund and one of Japan's largest conglomerates.