Otsuka Kagu President Moves to Get Reconciled with Her Father

Economy

Tokyo, April 26 (Jiji Press)--Kumiko Otsuka, president of Otsuka Kagu Ltd. <8186>, on Friday met her father for the first time since they battled over ownership of the struggling Japanese furniture retailer in 2015, asking for his cooperation for a new industry group.

Her father, Katsuhisa, chairman of separate furniture retailer Takumi Otsuka Co., responded positively to her request for him to become honorary chairman of the new group she has set up.

Bringing a rose bouquet with her, Kumiko visited a new outlet of Takumi Otsuka in Tokyo. After the meeting, she told reporters that she did not feel she had been apart from Katsuhisa so long.

Katsuhisa separately told reporters that he will be fully cooperative with her in making the industry better. He also said, "I'm glad see her again." But Katsuhisa quickly added that it is "not easy" for him to be fully reconciled with Kumiko.

Katsuhisa, the founder of Otsuka Kagu, was chairman of the company at the time of the infighting. After battling him over management policies, Kumiko won the ownership at a general shareholders' meeting in 2015.

[Copyright The Jiji Press, Ltd.]

Jiji Press