YASUAKI KAGAMI was a notable absentee from the Press conference when it was announced a Japanese-UK consortium had become the new majority shareholders of Plymouth Argyle.

Kagami has been a director of the Championship club since April 2008, after buying a 20 per cent stake in the Pilgrims' parent company.

Now his Tokyo-based consumer, property and leisure business KK Shonan have upped that to 38 per cent after buying all the shares of former director Phill Gill.

KK Shonan have teamed up with Sir Roy Gardner, the new Argyle chairman, and Keith Todd to acquire a controlling interest in the Home Park club.

Gardner and Todd, a lifelong Pilgrims' supporter, are buying 13 per cent of the shares in Plymouth Argyle (Holdings) Limited through their joint venture company KKC.

Kagami, who has only visited Plymouth twice since investing in Argyle, remains on the new board of directors.

And George Synan, an American businessman who is director of KK Shonan, will now also have a seat around the boardroom table.

Synan has been a regular visitor to Plymouth, especially in recent months.

And he explained at the Press conference on Thursday that he has the responsibility of overseeing Kagami's interests in Argyle.

Synan said: "I think one thing you have got to understand with Kagami is that we are a big business.

"I'm a director at the company in charge of this investment, so it's natural I'm the person here overlooking the investment. I will be here (in Plymouth) a lot."

Synan is convinced the partnership with Gardner and Todd will be a success.

He said: "We do see tremendous potential here and we feel this whole transaction has added value to our investment. That's why we wanted to increase our shares.

"We feel very confident with the current board and the direction we are going to take this.

"Kagami will be here and will try to make more time but, within the organisation, I'm the director in charge of this investment."

Meanwhile, the threat of redundancy still hangs over non-football playing staff at Argyle.

A consultation process took place in April as the club battled to get to grips with a worsening financial position caused by soaring players' wages and a decline in attendances at Home Park.

Argyle's new board of directors must now consider whether redundancies remain necessary and, if so, in what areas of the club.

Gardner said: "Clearly we need to look at the staffing here. When we have decided how many people we need to go forward, then we will talk to the staff.

"Shortly after that, we will talk to you (the Press), but at this moment there is nothing we can say."

Todd ended the Press conference by appealing to all Argyle supporters, whether they regularly attend matches or not, to rally around the club as the Pilgrims start their new era under the Japanese-UK consortium.

The telecommunications tycoon said: "I would urge everyone to come and join the new Argyle.

"We have got the new season opening up very shortly. There are season tickets available so buy early! It's going to be a great and exciting year.

"We can't guarantee success. We know there are going to be a few challenges out there.

"But the best way to get behind the Greens is to come and see the games. Let's fill the stadium."