Jun Fujimoto resigns as director of Okada Manila parent

Sep 02, 2024 Newsdesk Japan, Latest News, Rest of Asia, Top of the deck  

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Universal Entertainment Corp, the parent of the Okada Manila casino resort in the Philippines, has announced the resignation of Jun Fujimoto as a director of the company. His resignation comes before a meeting scheduled for later this month concerning Mr Fujimoto’s dismissal from Universal Entertainment’s board directors.

“As Jun Fujimoto resigned as a director of the company as of August 30, 2024, the company has decided to withdraw proposal No.2” that was scheduled to be discussed at the extraordinary shareholders meeting, stated Universal Entertainment in a Friday filing.

In June, the company said it had taken the “necessary measures” to ensure its “right to claim damages against” Mr Fujimoto, who resigned in April as president of the company.

The executive, who was also the group’s chief executive, had remained with the firm as a director of the board.

Mr Fujimoto stepped down from his role as president following a ruling in the Tokyo High Court on a shareholder lawsuit dating back to August 2019.

For the meeting later this month, Tomohiro Okada, a son of Kazuo Okada, the ousted founder of Universal Entertainment, has been proposed for election as a director of the company.

Mr Tomohiro Okada is already a director of privately-held Hong Kong firm Okada Holdings Ltd, which is the parent company of Universal Entertainment.

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