Father-Daughter Conflict at Otsuka Kagu
Shareholders' Meeting Begins
Japan's leading furniture retail chain Otsuka Kagu Ltd. holds its annual stockholders' meeting in Tokyo on Friday, March 27, 2015. The meeting is expected to decide the outcome of a feud between the founder-chairman Katsuhisa Otsuka and his daughter-president Kumiko Otsuka over corporate governance with both calling for the other to be ousted. In July 2014, Kumiko, who became president in March 2009, was removed and Katsuhisa returned as president, but after falling sales the Otsuka board had reinstated Kumiko (46) as president in January this year. Shareholders will vote on the future leader. (Photo by AFLO)