Japan’s Sega Sammy Holdings has taken a significant step forward with its succession plan after naming Haruki Satomi as new President and Group Chief Executive Officer following an organizational restructure.
Haruki Satomi takes over as CEO from his father and company founder, Hajime Satomi, who retains the role of Chairman and Representative Director. Haruki was formerly President and Group Chief Operating Officer.
The younger Satomi’s promotion comes as Sega Sammy announced an internal restructuring that sees the corporate and administrative functions of Sammy Corporation and Sega Group Corporation split up and Sega Group Corporation swallowed by another Sega Sammy Holdings subsidiary, Sega Corporation.
As all involved entities are 100%-owned subsidiaries, there will be no allocation of money or new shares, the company stated in a filing, and no increase or decrease in capital.
Yukio Sugino, Managing Executive Officer at Sega Sammy Holdings, has been named President and COO of the surviving entity, Sega Corporation, which parent Sega Sammy says is now responsible for the “planning, development and sales of game-related contents for mobile phones, PCs, smart devices and home video game consoles, and development and sales of Amusement (pachinko and pachislot) Machines.”
Sega Sammy Holdings was formed in 2004 after Sammy Corp, founded by Hajime Satomi in 1975, purchased a controlling share in video game giant Sega. The resulting conglomerate’s business focus has since centered around four key segments – pachinko and pachislot sales, amusement center operations, arcade machines and video games.
The company teamed up with South Korea’s Paradise Co in 2013 to develop US$1.3 billion integrated resort Paradise City in Incheon, near Seoul, which opened in April 2017. Sega Sammy holds a 45% stake in Paradise City.
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