Kazuo Okada receives bad news from all angles

Kazuo Okada can’t seem to catch the break he believes he deserves. After being ousted from the company he founded, Okada Holdings, he has had to deal with one headache after another. Now, he’s being hit from all sides and is having to fight his two children and estranged wife.

In 2017, the senior Okada found himself embroiled in a family dispute when his two children, Tomohiro and Hiromi, entered an agreement that led to their father’s removal from the company. Kazuo Okada holds 46.38% of the family business, while Tomohiro holds 43.48% and Hiromi, 9.78%. The brother and sister forged an alliance that helped to unseat their father; however, Hiromi later reconciled with her father, breaking the fragile alliance.

Hiromi, along with her father, then filed a lawsuit against Tomohiro. She asserted that she had been tricked into signing the trust agreement. However, the courts have disagreed and have said that the original agreement is still valid. Hiromi has said that she will appeal the decision, with the senior’s lawyers adding, “Until the decision becomes final, the fight is not yet over and Kazuo Okada remains in control of Universal Entertainment Corporation (UEC) as 99 percent owner of Okada Holdings Limited,”

On a different front, Tiger Resort Asia, a subsidiary of Okada Holdings, has announced that it has installed 11 new directors to Asiabest Group International Inc. (ABG). Tiger Resort acquired 66.6% of ABG this past Monday in an effort to be listed on the Philippine Stock Exchange.