Business | May 17

Japanese millennial could soon be billionaire after his AI company's shares surge

May 17 (Business Insider) - A Japanese millennial who uses AI to help solve a problem in the rapidly aging society has hit it big.

Since its debut on the Tokyo Stock Exchange in June 2022, shares of M&A Research Institute — a company that matches business owners in Japan with successors using AI — surged to over thrice its opening price.

The stock rose 47% this year alone.

Thanks to this surge, 32-year-old entrepreneur Shunsaku Sagami — who owns a 72% stake in the company — is worth $950 million as of May 16, according to the Bloomberg Billionaires Index.

Founded in 2018, M&A Research Institute aims to help the aging owners of small and medium-sized businesses whose businesses are forced to shutter when there's no one available to take over. The company said in April that some 620,000 profitable companies in Japan risk closure due to a lack of successors.

...continue reading


MORE Business NEWS

Tasaki, the renowned pearl jewelry brand, celebrated its 70th anniversary by hosting the "TASAKI 70th Anniversary Exhibition: FLOATING SHELL." The event kicked off on April 25 with a glamorous opening ceremony attended by a slew of celebrities.

The Bank of Japan says it will leave its monetary policy unchanged. The announcement comes at the end of the BOJ's two-day meeting on Friday. (NHK)

Honda has unveiled plans to construct a factory dedicated to electric vehicles (EVs) in Ontario, Canada, as part of its broader strategy to fully transition to EVs by 2040.

POPULAR NEWS

In a significant movement in the foreign exchange markets, the Japanese yen has once again depreciated, crossing the 158 mark against the U.S. dollar. This level marks the weakest the yen has been in approximately 34 years, signaling ongoing economic pressures and potentially major shifts in Japan's financial landscape.

In a remarkable display of bravery and quick thinking, a seven-year-old girl in Kitakyushu successfully rescued her four-year-old sister who had been kidnapped. The incident, which unfolded on April 13th, began when the siblings were approached by a stranger while playing on the street.

Japan's Cabinet Office's Government Public Relations Office recently stirred controversy with a social media post showcasing an overly lavish depiction of school lunches, leading to a public outcry over the authenticity of the meals presented.

Tokyo's Shinagawa district welcomes a new landmark with the grand opening of the Gotanda JP Building on Friday, April 26, featuring a dog-friendly hotel by Hoshino Resort, co-working spaces, and a vibrant culinary scene.

Japanese company Smile-Up, the former talent agency known as Johnny & Associates, says it has sent a letter of protest to Britain's public broadcaster BBC over its program on sexual abuse by its late founder. (NHK)

FOLLOW US