Okamoto Industries senior director resigns, income plunges 68%

Masaru Okamoto has resigned as representative director and senior managing executive officer for personal reasons at Okamoto Industries. Kunihiko Okamoto will remain the sole representative director.

The company reported first quarter consolidated net sales of 26,929 million yen, up 3.3%, but ordinary income plummeted 67.9% to 814 million yen.