Leadership Change at Okada Manila

Takashi Oya has replaced Kenji Sugiyama as both president of Asiabest Group International, the corporate entity used by Universal Entertainment to create a backdoor listing to the Philippine Stock Exchange, as well as the Okada Manila IR.

No detailed explanation was given for the unexpected personnel change, with Asiabest simply reporting to the Philippine Stock Exchange that it related to “a realignment of the corporate structure of the group.”

This change took place on March 22. Three days later, Oya was also appointed “executive officer overseeing overseas business management” at the Universal Entertainment parent company.

Previously, Oya held senior positions at the Fields Research Institute from 2007 to 2018 and was a director of Deutsche Securities from 1999 to 2007.

Okada Manila has been turning in strong financial results in recent months as its operations ramp up to full speed. In February, it posted GGR of almost 2.4 billion pisos (about US$46 million), other revenue of 166 million pisos (about US$3.2 million), and adjusted segment EBITDA of 361 million pisos (about US$6.9 million).

On a year-on-year basis, its February GGR was up 73% over the 2018 figure.
 (AGB Nippon)