Japanese gaming mogul Kazuo Okada has filed a lawsuit against his own family in an effort to be reinstated as a director of Okada Holdings Ltd, according to a report from Reuters.
Okada, who was last week dumped from the board of Okada Holdings subsidiary Universal Entertainment amid allegations he accessed US$20 million in company money without approval, filed the lawsuit with the Hong Kong High Court against his son, daughter and wife after he was ousted from Okada Holdings in May.
“Unless I sue there will be no opportunity to talk,” Okada told Reuters. “The reality is I am in a losing position in terms of voting rights.”
Okada holds a 46.38% stake but was voted out as a director by his son Tomohiro who owns 43.48% and daughter Hiromi who owns 9.78%. Okada said he had not seen Tomohiro for more than two years and was unaware of Hiromi’s location.
He said he was confident of reconciling with both, claiming the feud with Tomohiro was due to his son’s belief that he wasn’t being paid the dividends he was due from Universal in regards to his Okada Holdings stake. Okada said he planned to investigate the situation.
However, he added that he could not forgive wife Takako after she was re-elected as a Universal director last Thursday. Her roles are listed as foreign business advisor and looking after Okada Museum.
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