Uniqlo chief regains spot as Japan's richest but wealth down sharply

Jun 01, 2022 | News On Japan

Jun 01, 2022 (abs-cbn.com) - Tadashi Yanai, founder and chief of Japanese clothing retail chain Uniqlo, has regained his title as the richest person in Japan even as a global economic slowdown has eroded his wealth sharply, according to international business magazine Forbes Asia's latest list of the 50 richest people in Japan.

The founder and president of Fast Retailing Co., the operator of the casual clothing chain, saw his wealth fall by 44 percent to $23.6 billion, hit by a slowdown in sales in the domestic market and China, Forbes said.

The sharp drop in the value of his assets is part of a broader trend that has seen the combined wealth of Japan's 50 richest shrink by nearly a third to $170 billion, as soaring energy and commodity prices and supply chain disruptions have taken a toll, it said.

Takemitsu Takizaki, the founder of precision device maker Keyence Corp., came in second, his highest position ever, at $21.6 billion, even as his wealth has dropped by $4.2 billion from a year ago.

SoftBank Group Corp. founder and CEO Masayoshi Son was unseated from his rank as Japan's richest last year to third as his net worth has more than halved to $21.1 billion.

Typhoon No. 9 Causes Widespread Travel Disruptions

Typhoon No. 9 (Bavi) caused widespread transport disruption across Okinawa on July 11, grounding hundreds of flights, suspending ferry services and delaying mail and parcel deliveries as violent winds and dangerous seas continued to affect the prefecture's southern island chains.

Typhoon No. 9 Batters Okinawa as Power Outages Spread Across Islands

Large and powerful Typhoon No. 9 (Bavi) continued moving northwest on July 11, bringing violent winds, torrential rain, and widespread power outages to Okinawa as authorities warned that dangerous conditions would persist well into the afternoon despite the storm's center gradually moving away.

Bear Sightings Surge With 50 Cases in Iwate in One Week

A wave of bear sightings across Japan has forced the cancellation of traditional summer events, while one animal entered a home and came within inches of a sleeping resident's face.

Brutal Heat to Grip Japan as Heatstroke Risk Climbs

Japan is expected to remain under intense summer heat through next week as the Pacific high-pressure system continues to dominate the country, bringing widespread temperatures above 30 degrees Celsius and increasing the risk of heatstroke.

Akie Abe Reflects on Husband’s Killing Four Years Later

Akie Abe, the wife of former Prime Minister Shinzo Abe, has said she is only now becoming able to grieve honestly over her husband’s death, four years after he was shot and killed during an election campaign speech in Nara.

MEDIA CHANNELS

MORE Business NEWS

Docomo Bank to Begin Services in August, Aiming for 1,500 Branches

NTT Docomo will begin offering banking services under the new "Docomo Bank" brand in August, with plans to build a network of more than 1,500 locations by fiscal 2030, far exceeding the branch networks of Japan's major banks.

Nikkei Extends Rally With 813-Point Gain as AI Stocks Lead Market Higher

Japanese stocks rose for a second straight session on Friday, July 10, with the Nikkei Stock Average climbing 813.88 points to close at 68,557.73 after strong gains in U.S. technology and semiconductor stocks fueled renewed buying of AI-related shares.

June Corporate Goods Price Index Up 7.1%

Japan’s domestic Corporate Goods Price Index, which measures prices charged for goods traded between companies, rose 7.1% from a year earlier to 135.4 in June, the Bank of Japan said on July 10.

Zentoshi Becomes 2026’s Biggest Bankruptcy

A credit card payment processor with liabilities of about 125.9 billion yen has become Japan’s largest bankruptcy so far in 2026, disrupting card payments at restaurants and shops across the country and forcing many businesses to accept cash only.

Japan Delays 060 Mobile Numbers as Carriers Need More Time

Japan's planned rollout of mobile phone numbers beginning with 060 has been postponed after telecom carriers said they need more time to complete system preparations.

Nikkei Falls Below 67,000 as Yield Fears Deepen

Tokyo stocks fell for a third straight session on July 8 as selling in semiconductor and AI-related shares continued, while rising Japanese government bond yields, Middle East tensions and concern over the Bank of Japan’s policy independence added pressure to the broader market.

Nikkei Slides as Samsung Shock Hits AI Trade

Tokyo stocks fell sharply on July 7 as a selloff in South Korean chip shares triggered fresh concern over the sustainability of the AI boom, dragging the Nikkei 225 lower while banks and other value shares resisted the decline.

Further Rise Unavoidable as Long-Term Rate Briefly Hits 2.83%

Japan’s long-term interest rate briefly rose to 2.83% on July 6, its highest level in nearly 30 years, as investors grew more cautious over inflation, the pace of Bank of Japan rate hikes and the government’s fiscal stance.

< 2 3 4 5 >