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National News

Skylark president steps down

Major restaurant chain operator Skylark Co. announced Aug. 12 the resignation of its president, Kiwamu Yokokawa.

Shareholders voted to dismiss Yokokawa due to the company's growing losses. He was replaced by Makoto Tani.

The two top shareholders are Nomura Principal Finance Co., the investment unit of Nomura Holdings Inc., and British private equity fund CVC Capital Partners. They hold more than 97 percent of the company.

Over the next two years, Skylark will close up to 350 of its 4,000 restaurants, which include Skylark, Jonathan's, Gusto and Bamiyan. (Kyodo News)


Shukan ST: Aug. 22, 2008

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