TOKYO -- The embattled founder of Otsuka Kagu is unloading part of his stake in the major Japanese furniture retailer, raising speculation over his intentions as he continues to squabble with the president, his own daughter, who ousted him from management.
Katsuhisa Otsuka plans to sell 950,000 shares, or 27% of the 3.5 million shares he now holds, according to a report with the Kanto Local Finance Bureau. He will remain top shareholder, but his stake will shrink from 18.04% to 13.14%.
