Japanese gaming giant Universal Entertainment has denied reports that former chairman Kazuo Okada has wrestled back control of parent company Okada Holdings.
The company added that it “sincerely and solemnly accepted” the results of a recent special investigation that found Okada guilty of fraud. Reuters reported late last week that Okada had reinstalled himself as a director of Okada Holdings after winning back the support of daughter Hiromi, who alongside Okada’s son Tomohiro and wife Takako voted him out in May.
It also claimed he had written to the Universal board demanding a special shareholders’ meeting to install a new board that included him. In a Monday statement, Universal said the Reuters report “has no basis in fact” and that “Mr Okada has not in fact legally acquired and maintained majority voting rights in OHL, including proxies to exercise voting rights in place of OHL shareholders, nor has he been reinstalled as a ‘representative’ or ‘director’ of OHL.”
Source: Inside Asian Gaming
