Japan’s Universal Entertainment has made the decision to form a Governance Committee, with the aim of improving its compliance. The forming of said committee would be effective immediately.
The Governance Committee was a resolution passed by the Board of Directors, in parallel with the significant change in leadership following the resignation of former Director Jun Fujimoto.
Fujimoto was found to have “breached his fiducial duty or duty of loyalty as a director in a transaction in 2012” and resigned from the position of Director on 30 August 2024.
The committee consists of three Directors from ‘outside’ of the group: Masayoshi Miyanaga (Director), Hiroshi Miyauchi (Director) and Yutaka Yazawa (Full-time Audit & Supervisory Board Member). The committee will be headed by Hajime Tokuda as the new Representative Director and President.
The committee's tasks include investigating the group’s management situation, business operations and organisation by March 2025, identifying the company's governance issues and proposing necessary measures to the Board of Directors regarding the future governance structure and how business operations should be conducted.
Universal Entertainment’s latest update was the Q2 financial report of its subsidiary, Tiger Resort, Leisure And Entertainment, Inc (TRLEI), the operator of Okada Manila.
On the other hand, the latest updates from Japan saw the announcement of a new IR in Osaka, with plans to open in 2030.
