Tomohiro Okada to become a director of Universal Entertainment

Tomohiro Okada, the son of Kazuo Okada, the ousted founder of Japanese gaming conglomerate Universal Entertainment Ltd, is proposed for election as a director of Universal Entertainment at an extraordinary shareholders’ meeting scheduled for September 16. This information was announced on Tuesday.

Tomohiro Okada currently serves as a director of the privately-held Hong Kong firm Okada Holdings Ltd, the parent company of Universal Entertainment.

Universal Entertainment also controls Tiger Resort, Leisure and Entertainment Inc. (TRLEI), which operates the Okada Manila casino resort in the Philippine capital.

The Tuesday statement explained that the proposal to add Tomohiro Okada as a Universal director aims to “strengthen the company’s business activities in Japan and overseas.”

The statement also confirmed that the September 16 meeting will include a proposal to dismiss Jun Fujimoto, a Universal Entertainment director, following a Tokyo High Court ruling that he had “breached his fiduciary duty or duty of loyalty as a director.”

This follows a shareholder lawsuit filed on April 26, seeking compensation for damages allegedly caused by Fujimoto’s actions.

Kazuo Okada has previously contested his removal as chairman and director of Universal Entertainment. He also challenged, through the Philippine Supreme Court, who or what should control Okada Manila and TRLEI. In November last year, the court ruled that Kazuo Okada had been properly removed from TRLEI.

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