{"id":777018339,"date":"2024-08-21T09:38:43","date_gmt":"2024-08-21T12:38:43","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777018339"},"modified":"2026-04-22T06:56:17","modified_gmt":"2026-04-22T09:56:17","slug":"universal-entertainment-proposes-tomohiro-okada-as-new-director","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/universal-entertainment-proposes-tomohiro-okada-as-new-director","title":{"rendered":"Universal Entertainment proposes Tomohiro Okada as new director"},"content":{"rendered":"\n

The proposal will be presented at an extraordinary shareholders’ meeting.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Universal Entertainment <\/strong>has announced through a company filing that Tomohiro Okada<\/strong>, the son of founder and former chairman Kazuo Okada<\/strong>, has been nominated as a director. The proposal will be presented at an extraordinary shareholders’ meeting scheduled for September 16.<\/p>\n\n\n\n

Okada currently serves as the director of Okada Holdings Limited, Universal Entertainment’s parent company of Universal Entertainment. <\/p>\n\n\n\n

The September 16 meeting will also include a proposal to <\/strong>remove Jun Fujimoto<\/a>, a current director, based on a ruling by the Tokyo High Court. The court found that Fujimoto had violated his fiduciary duty as a director, following a shareholder lawsuit filed earlier this year seeking damages.<\/p>\n\n\n\n

Universal Entertainment net sales down 20.7% in Q2<\/h2>\n\n\n\n

Universal Entertainment recorded net sales of JPY62.9bn (US$429m) in the second quarter of the year. That\u2019s a decline of 20.7 per cent when compared to last year, mainly attributed to a drop in the net sales of its leisure equipment and integrated resort businesses.<\/p>\n\n\n\n

Operating profit was down 69.6 per cent year-on-year to JPY3.26bn (US$22.2m), while ordinary profit was down 80.4 per cent to JPY5.57bn (US$38.0m). The company\u2019s net income attributable to owners of the parent fell 97.5 per cent to JPY525m (US$3.6m).<\/p>\n\n\n\n

Okada Manila\u2019s performance was down year-on-year but, similar to the first quarter. The number of VIP guests was down due to the slowdown of the junket business. Although the performance of the mass market and gaming machine sectors was lower than the previous year, the company said sales are steadily increasing. In the hotel, food, and beverage businesses, the number of guests remains high.<\/p>\n\n\n\n

See also: <\/strong>TRLEI posts gross gaming revenue of US$151.3m for Q2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The proposal will be presented at an extraordinary shareholders’ meeting.<\/p>\n","protected":false},"author":176,"featured_media":18988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Universal Entertainment has nominated Tomohiro Okada as a director, to be voted on at an extraordinary shareholders\u2019 meeting, which will also address the removal of Jun Fujimoto following a Tokyo High Court ruling on fiduciary duty. Concurrently, the company reported a significant Q2 financial downturn, with net sales decreasing 20.7% and net income attributable to owners plummeting 97.5%, primarily due to underperformance in its leisure equipment and integrated resort segments, including Okada Manila.","focusai_entities":"Universal Entertainment, Tomohiro Okada, Kazuo Okada, Okada Holdings Limited, Jun Fujimoto, Tokyo High Court, TRLEI","focusai_location":"Philippines, Tokyo","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.9), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Governance Impact on Strategy","query":"How might the proposed director changes and the Tokyo High Court's ruling on fiduciary duty influence Universal Entertainment's long-term strategic direction and its governance framework, particularly concerning its integrated resort assets?"},{"label":"Q2 Performance Drivers","query":"What specific market conditions and operational inefficiencies contributed to the significant Q2 decline in net sales and net income for Universal Entertainment, beyond the stated slowdown in junket business and leisure equipment?"}],"footnotes":""},"categories":[157,16333],"tags":[8986,23686],"class_list":["post-777018339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-okada-manila","tag-universal-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777018339"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018339\/revisions"}],"predecessor-version":[{"id":777018353,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018339\/revisions\/777018353"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18988"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}