Japan-based Universal Entertainment Corp, the parent of the Okada Manila casino resort in the Philippines, has proposed changes to its board, which are due to be voted on at the company’s annual shareholders meeting on March 27.
In a Wednesday filing, the Japanese conglomerate said Yoshiyuki Shouji is to be elected as a director. He is currently a managing executive officer, and a general manager of the group’s Gaming Compliance Office and of the Internal Audit Office.
The term of the six current directors of Universal Entertainment is set to expire at the end of next month. Tomohiro Okada, Masayoshi Miyanaga, and Hiroshi Miyauchi are up for re-election at the March 27 meeting.
Not being proposed for a new term are three other current directors, including Takako Okada.
Ms Takako Okada, who until September last year was representative director of Universal Entertainment, is to retire from her position as a director. She is the ex-wife of Mr Kazuo Okada.
Mr Tomohiro Okada was appointed as president and representative director of Universal Entertainment in September. He is a son of Kazuo Okada, the ousted founder of the Japanese gaming conglomerate.
Mr Tomohiro Okada is already a director of privately-held Hong Kong firm Okada Holdings Ltd, which is the parent company of Universal Entertainment.
Also retiring from his position next month is Hajime Tokuda, who serves as a director and vice president of Universal Entertainment, responsible for corporate planning and foreign business development.
Earlier this month, Universal Entertainment reported net sales of JPY126.33 billion (US$846.6 million currently) for 2024, down 29.4 percent from the previous year. The company posted a net loss of JPY15.57 billion last year, compared with a profit of nearly JPY28.44 billion for 2023.
Universal Entertainment proposes new board director, Takako Okada to retire
