Tadashi Yanai, founder and CEO of the Japanese clothing retail giant Uniqlo, has regained his position as the richest person in Japan, according to the newest list of the 50 richest persons in Japan published by the international business magazine Forbes Asia.
Forbes said that the wealth of the founder and president of Fast Retailing Co, the operator of the casual clothes chain, decreased by 44 percent to $23.6 billion due to a slowdown in sales on the local market and in China.
As a result of surging energy and commodity costs and supply chain disruptions, the total wealth of Japan’s 50 wealthiest has decreased by about a third to $170 billion, it was reported.
Takemitsu Takizaki, the creator of precision device manufacturer Keyence Corp, ranked second with $21.6 billion, his highest place ever, despite his wealth decreasing by $4.2 billion over the past year.
Masayoshi Son, founder and chief executive officer of SoftBank Group Corp, was dethroned from his position as Japan’s wealthiest to third place this year, as his net worth has more than halved to $21.1 billion.
Son “suffered the greatest loss in both cash and percentage terms” as his investment firm’s two Vision Funds recorded a record $27 billion loss for the fiscal year ending in March 2022, according to the study.
Six newcomers made their debut on Forbes’ list, including the Sekiya family, whose company Disco Corp. manufactures equipment for semiconductor processing, and the scientist-turned-entrepreneur Keiichi Shibahara, who formed Amvis Holdings Inc to provide hospice care.