Universal Enterprises President Pays Over US$43M
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Jun Fujimoto resigned as CEO of Universal Entertainment, the parent company of Okada Manila Casino Resort in the Philippines.
The ruling follows a Tokyo High Court ruling on Thursday on a shareholder lawsuit dating back to Aug. 26, 2019.
Universal Entertainment said in a release along with Friday's date that the court found Mr Fujimoto violated his trust or loyalty obligations as a director of the company by transferring about $43.5 million outside the company without following internal decision-making procedures, as he first claimed. He is also liable for compensation to Universal, according to the court. 프라그마틱 슬롯 사이트
On June 30, 2022, the lower court, the Tokyo District Court, dismissed the claim, judging that the company had actually passed the necessary board resolution.
However, the plaintiff in the case, described only as a "shareholder of the company" in a statement from Universal Entertainment, appealed to the Tokyo High Court on July 13, 2022, which later issued a new ruling.
A separate announcement from Universal Entertainment said that after Friday's extraordinary board meeting, Tokuda Hajime was appointed as the group's president and CEO, and Takako Okada was appointed as CEO.
Fujimoto, who was also the group's chief executive, has now been appointed as a director of the company.
In May 2019, Universal Entertainment founder Kazuo Okada accused Mr Fujimoto of being one of several people who removed him from Tiger Resorts, Leisure and Entertainment, a group affiliate that controls Okada Manila.
Kazuo Okada was ousted as chairman of Universal Entertainment in June 2017, and was removed as chairman of Tiger Resort the same month.
