TOKYO (Reuters) - Hong Kong-based activist investor Oasis Management said on Friday it filed a lawsuit against Japanese drugstore operator Kusuri No Aoki's President Hironori Aoki and Vice President Takanori Aoki citing "serious governance failures".

Oasis said it was seeking compensation of about 7.2 billion yen ($45.21 million) in damages. It also urged Kusuri No Aoki shareholders to vote against the re-election of the two executives at the forthcoming general shareholders' meeting.

($1 = 159.2500 yen)

(Reporting by Kiyoshi Takenaka; Editing by Muralikumar Anantharaman)