TOKYO -- The father-daughter battle over the management of Otsuka Kagu, a Japanese furniture retailer, has ended in favor of Kumiko Otsuka, the daughter and the company's president. She is now working to reform the business, but she has her work cut out for her.
At Otsuka Kagu's annual shareholders meeting in March, more than 60% of the shareholders supported a motion to have Kumiko Otsuka stay on as president. The attempt by her father, Katsuhisa, the company's founder and largest shareholder, to regain control was rejected. Kumiko is making fundamental changes to the company's strategy, one of which is moving from a membership model to an approach that is friendlier to walk-in customers.
