KAZUO OKADA
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PROFILE
KAZUO OKADA
For over 50 years, the company was able to develop and expand its business thanks to its industry benchmark for Pachislot, which in turn has been installed to almost all the Pachislot machines. He later earned the nickname “Casino King of Japan”for his management skills and through shifting his business into Casino.
Ranked 1st in the 1999 Japan’s top Billionaire list.
He was successful in achieving to “raise 100 Billion Yen”by year 2000, without loaning.
And with that fund at hand, together with Steve Wynn through a joint capital investment, he built the first ever Japanese managed Casino Hotel in Las Vegas and Macau.
In 2007, with a total construction cost of 250 Billion Yen and spending 7 years, he also established and managed “Okada Manila”,a huge IR facility in Manila Philippines.
This is the world’s first Casino Hotel that bares a Japanese person’s name.
When it comes to “Casino IR management”, there is no one in Japan who knows as much as he does.
In 2017, the management of Universal Entertainment (hereinafter referred to as "UE Corporation"), a listed company, and the eldest son who held nearly half of the company shares (only by name) engineered a coup d’etat.
Where he is now struggling to return to UE and Okada Manila.
MESSAGE
In 2012, the current president of the UE Corporation, Fujimoto Jun organized a Special Investigation Committee in order to conceal his huge amount of unauthorized remittance of about 3.5 Billion Yen.
3 malicious lawyers comprised of Masaki Michio, Matsuo Sotaro and Miyama Miya, became the Special Investigation Committee and created reports based on falsehood without conducting necessary investigations. They released the false detail, and made me appear as if I am a criminal, deceived my family and people around me, and ousted me from UE Corporation.
Fujimoto was originally the representative of Seta Corporation, however, the company got delisted and was about to go bankrupt, so in 1999, I bought it out through UE Corporation.
Despite being saved by me at that time, he is trying to return the favor through ill will.
After driving me out from the UE Corporation, Fujimoto continued with his sloppy way of management, and brought the UE Corporation’s assets to deficit, and down the drain. Looking at these financial statements, it is clear that Fujimoto and the current management have no management skills both for corporate and for casino. Since my ouster, the company is at an operating loss for nearly 50 Billion yen.
Additionally, despite their lack of authority, they proceeded the negotiation for the settlement with Wynn Company instead of me; which at that time, UE Corporation was the largest shareholder of the said company, and without the regard to the actual situation, what was originally worth more than about 400-600 Billion Yen had only been settled for about 260 Billion yen for the purpose of immediate fund raising.
Furthermore, the current executive of the UE Corporation is receiving an outrageous amount of compensation, and this will likely lead the UE Corporation to bankruptcy. I also believe that the current management system will fail in less than a year.
As the person who established the company and raised it for over 50 years with my heart and soul, I will certainly return as the manager of the company and will bring back "true entertainment" to people from all over the world, making Universal Entertainment the world's best casino company. I am the only one who can do that.
I was unfairly refused participation at the shareholders meeting in June, immediately after being ousted in 2017, but if I attended at that time, I would have made the following remarks.
“I am confident that within 2 years, I will list Universal Entertainment in Hong Kong and have a market capitalization of over 1 Trillion Yen.
I wish to supply for the remaining fund through increase of capital by shouldering it. Also, the Court of the United States has also proved that the Reuter’s report is unfounded so the litigation with Wynn has also arrived to a point for reaching victory.
And in the event of a favorable ruling UE will become the largest shareholder of Wynn and will be able to take control of the management. Through this, Wynn Resorts (having UE as the largest shareholder) will become the 3rd largest Casino Company in the world.”
MESSAGE 2
【「The Corporate Raid」caused by 2 large money transfers】
I will explain the details about the case.
First of all、let me explain the case about 2 large amount of unauthorized money transfers.
▼The large amount of unauthorized money transfer and loan
| No. | Period | Amount (USD) | Approx. Amount (JPY) | Detail | People involved | Status |
|---|---|---|---|---|---|---|
| ① | 2009～10 | 40 million | 3.2 billion | Bribery for Philippine high government official | YOSHIYUKI SHOJI MITSUO HIDA | Broadcasted allegation towards me |
| ② | 2012 | 43.5 million | 3.5 billion | Large unauthorized money transfer by Fujimoto. | KENJI ASANO YOSHIYUKI SHOJI | Unresolved |
| ③ | 2009 | 20 million | 1.6 billion | Loan by Tokuda | TOSHIHIKO KOSAKA | Discharged by third-party committee |
| No.① | Period 2009～10 |
|---|---|
| Amount(USD) 40 million | Approx.Amount(JPY) 3.2 billion |
| Detail Bribery for Philippine high government official | People involved YOSHIYUKI SHOJI, MITSUO HIDA |
| Status Broadcasted allegation towards me | |
| No.② | Period 2012 |
|---|---|
| Amount(USD) 43.5 million | Approx.Amount(JPY) 3.5 billion |
| Detail Large unauthorized money transfer by Fujimoto. | People involved KENJI ASANO, YOSHIYUKI SHOJI |
| Status Unresolved | |
| No.③ | Period 2009 |
|---|---|
| Amount(USD) 20 million | Approx.Amount(JPY) 1.6 billion |
| Detail Loan by Tokuda | People involved TOSHIHIKO KOSAKA |
| Status Discharged by third-party committee | |
①40 million USD in 2009-2010
The Bribery for Philippine high government official
②43.5 million USD in 2012
Large unauthorized money transfer by Jun Fujimoto.
Additionally, the loan is involved as one more issue
③20 million around in 2009
Hajime Tokuda Loaned to Toshihiko Kosaka
【Misled Problem】
In 2017, Fujimoto, EU President convinced my son, Tomohiro Okada who developed distrust towards me and conspired with him.
Back in May 2012, Jun Fujimoto initiated unauthorized 43.5 million USD money transfer. In order to conceal his huge amount of unauthorized remittance, he framed the plot for the corporate raid against Universal Entertainment and he made me appear as if I were criminal.
For this plot, Yoshinao Negishi who was Financial Director at that time conspired with Fujimoto. Yoshinao Negishi was put under the control of Jun Fujimoto.
My son, Tomohiro Okada, was nearly half of nominal stockholder of OHL (Okada Holdings Ltd.)
Because of that, Jun Fujimoto deceived Tomohiro Okada that I was going to be arrested as a criminal and the company would go bankrupt soon if the condition was kept as it was. That is how Coup d’état was caused.Up to now, my OHL stock have not been transferred nor gifted to anyboday.
Nominal stock is not officially owned by its named person, yet shareholders meeting was held with those voting rights in June 2017.
Jun Fujimoto was treated those nominal stock as if Tomohiro Okada had the voting right and dismissed me.
Before the allegation of Bribery, I explain the unauthorized money transfer② made later by Jun Fujimoto who is current President of UE.
【Unauthorized Remittance of 43.5 million USD (3.5billion yen）by Jun Fujimoto】
In May 2012, Jun Fujimoto, UE president, himself made huge incident.
He made 43.5 millions unauthorized remittance to the personal bank account named 「TAKERU ITO」, a lawyer who has no business connection to UE.
Jun Fujimoto transfer the money to him via Aruze Gaming USA which is 100% subsidiary, to avoid pursuing and veil the unauthorized remittance.
By using this bind spot, he made this huge unauthorized money transfer as normal expense and as if this unauthorized remittance had not made.
Investigation found that it was from U.E, without doubt. I only have found this huge money transfer at the end of 2014, which is 2 years later.
I feared that I was informed by the reporter about this issue which had happened 2 years ago while I was heavily engaged in Progress of Okada Manila Construction Project.
The money transferred via Aruze gaming was apparently unauthorized remittance. Why this huge money was transfer to Hong Kong. This is the fundamental of the incident.
Generally, the manufactures such as U.E. expense for material manufacture and development fee. There is no such a business deal with Hong Kong nor TAKERU ITO. That is why Jun Fujimoto should resolve this issue. At that time, I trusted Yoshiyuki Shoji, who was assigned in charge of Aruze gaming USA financial control to settle this issue, did transfer this money.
【Bribery for Philippine high government official 40 million USD ( approx.3.2billion JPY)】
I discover it for the first time via the news broadcasted by Reutours.
Without any interview at all in advance.
▼Allegation towards Chairman Okada of Bribery of Philippine High Government Official ?
https://jp.reuters.com/article/tk0555947-special-report-universal-casin-idJPTYE8AF05T20121116
According to this article, unauthorized money transfer so called “Bribery” was made in 2009.
In that period when money transferred, I didn’t visit Philippine.
Inception of this 40 million money transfer was that Yoshiyuki Shoji who was in charge of Aruze USA account, didn’t pay 25 million USD to UE which was the extra dividend paid by Wynn resort.
At that time, the remittance confirmation was made by Deutsche Bank via telephone.
The representative of Aruze Gaming USA was me, and that account was made under my name but the contact phone number was Yoshiyuki Shoji’s. It was in order to settle it without my noticing.
Therefore, the remittance was made without my remittance confirmation by Deutsch Bank
25million USD from the Wynn as the dividend was transfer for the personal account in Hong Kong named Toshiyuki Nishigaki (former UE employee). Additionally 10 million USD was transferred to the account in Hong Kong named Future Fortune(F.F) in January 2010.
Yoshihisa Kiryu who was financial director in UE was the representative in this F.F.. Of course, I was not informed about it at all nor did not know about this company itself.
Additional 5 million USD was transferred to F.F. in March 2010.
For those 15million USD (10million and 5million) after 25 billion remittance, Yoshiyuki Shoji and Mitsuo Hida conspired and transferred.
The total amount of those 3 remittances are 40 million USD and this is the 40 million USD which Reuters broadcasted me as suspected Bribery.
【20million (1.6billion JPY) USD Load by Hajime Tokuda】
Addition to above stories, there is another incident that one of the board members, Hajime Tokuda loan 20million USD without approval of board meeting toToshihiko Kosaka individually without any guarantee nor interest just before this incident.
After I found this fact, I questioned Toshihiko Kosaka and get 10million USD back from his bank account.
However outstanding 10 million USD was returned to UE from those 40 million USD unauthorized remittance and collected by Yoshihisa Kiryu by check via Voichy account.
Those incidents are all made behind my back who was broadcasted as suspected bribery. If managing director and president plot together, they can steal cooperate monetary resource. Corporate governance collapse. With further investigation, chief accountant, Yoshitaka Fujiwara was aware of it.
Additionally, this case was conclude as discharged by third-party committee. I think it is perfunctory.
Regarding the loan to Toshihiko Kosaka, the purpose of the loan of 20 million must be clarified by board of the director rule, but it was not even brought up as an issue at the board of the directors meeting.
Those loan was made by Asano, Negishi at Administration Division, Tokuda board member, Fujimoto Representative Director and Shoji, Kiryu, Kanno, account managers, and all the member are aware of the fact that it was unauthorized remittance.
As seen above, those allegation towards me were made behind my back as the conspiracy laid by UE board member and managing division who was given the financial management titles
Some of them are still in the board member in UE up to today and earning unreasonably huge amount of remuneration. And I assume those managing member who left UE probably are still in contact with Jun Fujimoto and countenance to this corporate raid.
INTERVIEW
“As a Japanese, I am probably the only person that knows from the bottom up, the casino business; the others [in Japan] are just involved on an investment basis. I am probably the only one with hands-on experience to be able to do that.”