Latest news with #FastRetailing
Business Times
15 hours ago
- Business
- Business Times
Japan's richest ride yen gains; Uniqlo boss Tadashi Yanai leads 2025 pack with record US$48 billion fortune
[SINGAPORE] The total wealth of Japan's 50 richest individuals on Forbes' 2025 list climbed 14 per cent to US$228 billion on the yen's strength, even as the country slashed its economic growth estimate. The fortunes of 37 individuals on the list rose as a strengthened yen boosted net worth, even as the benchmark Nikkei 225 index was down by almost 2 per cent since fortunes were last measured, Forbes Japan said in a Tuesday (Jun 3) statement. The minimum net worth to qualify for the list rose to U$1.2 billion from $980 million last year. The country's wealthiest person, billionaire Tadashi Yanai - the chief executive officer of Fast Retailing, which owns Uniqlo - added more than US$10 billion to take his fortune to an all-time high of US$48.2 billion. Shares of Fast Retailing were up 20 per cent as it reported double-digit growth in revenue and net profit for the first six months ended February. However, the company trimmed its growth forecast in light of US tariff threats as it derives 8 per cent of revenue from the North American market. SoftBank Group founder Masayoshi Son retained his spot in second place with a US$28.2 billion fortune, as the technology investor reported its first annual net profit in four years for the fiscal year ended March. Son is investing billions in artificial intelligence (AI) - including in the US$500 billion Stargate Project, a joint venture with OpenAI, Oracle and MGX to build AI data centres in the US. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Founder of sensor manufacturer Keyence, Takemitsu Takizaki, came in third place, although his net worth dipped slightly from the previous year to US$20.7 billion. Nobutada Saji, the chairman of beverage powerhouse Suntory, came in fourth place as his wealth grew to US$10.5 billion, up US$1.2 billion from last year. Yasumitsu Shigeta, the chairman of Tokyo-listed mobile phone retailer Hikari Tsushin, joined the ranks of the top five wealthiest for the first time, standing in fifth position. Shares of his company - which also supplies electricity and gas to small and midsized businesses - rose 62 per cent in the past year on higher sales and profits and propelled his net worth to US$6.9 billion from US$4.2 billion a year ago. Video games billionaire Kagemasa Kozuki was the biggest gainer in percentage terms. His fortune doubled to US$3.5 billion as he climbed up nine places to seventeenth position. Konami Group, which he founded, chalked up more than 850 million downloads globally for its eFootball game which has Lionel Messi as a brand ambassador. The digital entertainment producer sold more than two million copies of the horror game Silent Hill, released in October 2024. Among the nine whose wealth decreased was the Sekiya family, in eighth position, as shares of their chip-equipment maker Disco tumbled by nearly 40 per cent, cutting its net worth by US$2.4 billion to US$5 billion. The company was hit by concerns over tariffs and the strengthening yen. Shintaro Tsuji, who founded the company behind the Hello Kitty brand, Sanrio, returned to the list in thirty-second position with a US$1.7 billion fortune. The Hello Kitty brand has regained sheen under his 36-year-old grandson Tomokuni Tsuji, the president of Sanrio. The list was compiled using shareholding and financial information obtained from families and individuals, stock exchanges, annual reports and analysts. Private companies were valued based on similar companies that are publicly traded and net worth determined based on stock exchange prices and exchange rates as at the market close on May 9, 2025. Japan has cut its economic growth estimate for the year to 0.5 per cent from 1.1 per cent, as the nation braces for the impact of tariffs by the US, its biggest export market.
Forbes
a day ago
- Business
- Forbes
Wealth Of Japan's 50 Richest On Forbes List Rises 14% To US$228Billion
Uniqlo founder Tadashi Yanai remains at No. 1 SINGAPORE (June 3, 2025) – The collective wealth of Japan's 50 Richest on the 2025 Forbes list rose 14% to US$228 billion, helped by a stronger yen. The complete list can be found at and as well as in the June issue of Forbes Asia. Bracing for the impact of tariffs from the U.S., its biggest export market, Japan cut its economic growth estimate for this year to 0.5% from 1.1%. The benchmark Nikkei 225 index was down nearly 2% since fortunes were last measured, but a stronger yen helped boost net worths of the country's 50 richest. Overall, 37 people on the list saw an increase in their wealth. The country's richest person, Tadashi Yanai, the retailing billionaire behind the Uniqlo clothing brand, added more than $10 billion and propelled his fortune to an all-time high of $48.2 billion. Shares of his Fast Retailing were up 20% as it reported double-digit growth in both revenue and net profit for the first six months ended February. Though the company gets only 8% of its revenue from the North American market, it has cut its growth forecast in light of the tariff threat. Masayoshi Son, founder of SoftBank Group, which reported its first annual net profit in four years for the fiscal year ended March, retained the No. 2 spot with $28.2 billion. Son is making multibillion dollar investments in AI, including in the $500 billion Stargate Project, a joint venture with OpenAI, Oracle and MGX to build AI data centers in the U.S. Taking the third spot on the list is Takemitsu Takizaki, founder of sensor manufacturer Keyence, who saw his net worth fall slightly to $20.7 billion. The wealth of Nobutada Saji (No. 4), of Suntory Holdings rose to $10.5 billion, up $1.2 billion from last year. Entering the top five ranks for the first time is Yasumitsu Shigeta (No. 5), chairman of Tokyo-listed mobile phone retailer Hikari Tsushin, which also supplies electricity and gas to small and midsized businesses. Shares of the company were up 62% in the past year on higher sales and profits, boosting Shigeta's net worth to $6.9 billion from $4.2 billion last year. The biggest gainer in percentage terms is video games billionaire Kagemasa Kozuki, whose fortune doubled to $3.5 billion, and he moved up nine places to No. 17. His Konami Group, which has racked up over 850 million downloads globally for its eFootball game with Lionel Messi as one of its brand ambassadors, scored another hit selling over two million copies of horror game 'Silent Hill 2,' which was released last October. Among the nine whose fortunes fell is the Sekiya family (No. 8), as shares of their chip-equipment maker Disco tumbled nearly 40%, pulling their net worth down by $2.4 billion – nearly a third – to $5 billion. The company was impacted by concerns over tariffs and the rising yen. The three returnees this year include Shintaro Tsuji (No. 32, $1.7 billion), founder of Sanrio, the company behind the iconic Hello Kitty brand, which has regained its sheen under Tsuji's 36-year-old grandson Tomokuni. The minimum net worth to qualify for the list rose to $1.2 billion from $980 million last year. The top 10 richest in Japan are: This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, annual reports and analysts. The ranking lists both individual and family fortunes, including those shared among relatives. Private companies were valued based on similar companies that are publicly traded. Net worths were based on stock prices and exchange rates as of the close of markets on May 9, 2025. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don't reside in the country but have significant business or other ties to the country. For more information, visit and About Forbes Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 140 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 42 licensed local editions in 68 countries. Forbes Media's brand extensions include real estate, education and financial services license agreements. For media queries, please contact: Catherine Ong Associates Pte Ltd Catherine Ong, cell: +65 9697 0007, Email: cath@ Chenxi Wang, cell: +65 8187 3215, Email: chenxi@
Fashion Network
22-05-2025
- Business
- Fashion Network
Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says
The family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing, has agreed to buy a building in Milan for about 300 million euros ($339 million), a source close to the matter said on Thursday. Yanai, Japan's richest man, is buying the building from U.S. property firm Hines, the source added. Hines declined to comment. Yanai could not immediately be reached for comment. A representative for Fast Retailing Co., Uniqlo's owner, could not immediately comment. The 19th-century building is in Milan's central Piazza Cordusio, where Uniqlo's flagship store has been since 2019. The 161,000-square-foot structure, called Cordusio 2.0, was acquired by Hines in 2016 and renovated. It stands across from the city's Starbucks Reserve Roastery and near Milan's main Duomo Square. JLL advised Yanai. The real estate and investment management services firm confirmed it worked as an adviser for a family office involved in the transaction, without giving further details. The sale was first reported by Green Street News, which said that Yanai had recently also bought a Uniqlo-occupied building in Amsterdam and another one in London. Milan's property sector has seen a renaissance in recent years as revitalization projects have helped transform several run-down neighborhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. ($1 = 0.8855 euros) © Thomson Reuters 2025 All rights reserved.
Fashion Network
22-05-2025
- Business
- Fashion Network
Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says
The family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing, has agreed to buy a building in Milan for about 300 million euros ($339 million), a source close to the matter said on Thursday. Yanai, Japan's richest man, is buying the building from U.S. property firm Hines, the source added. Hines declined to comment. Yanai could not immediately be reached for comment. A representative for Fast Retailing Co., Uniqlo's owner, could not immediately comment. The 19th-century building is in Milan's central Piazza Cordusio, where Uniqlo's flagship store has been since 2019. The 161,000-square-foot structure, called Cordusio 2.0, was acquired by Hines in 2016 and renovated. It stands across from the city's Starbucks Reserve Roastery and near Milan's main Duomo Square. JLL advised Yanai. The real estate and investment management services firm confirmed it worked as an adviser for a family office involved in the transaction, without giving further details. The sale was first reported by Green Street News, which said that Yanai had recently also bought a Uniqlo-occupied building in Amsterdam and another one in London. Milan's property sector has seen a renaissance in recent years as revitalization projects have helped transform several run-down neighborhoods into upscale landmark zones. Last year, Gucci owner Kering SA spent 1.3 billion euros for a property on Milan's Via Monte Napoleone, its toniest shopping street. ($1 = 0.8855 euros)
Yahoo
22-05-2025
- Business
- Yahoo
Billionaire Behind Uniqlo Just Made a $339M Power Play in Milan--Is This the Next Retail Gold Rush?
Uniqlo's billionaire founder just dropped $339 million on a building in the heart of Milanwhere the brand already operates its flagship store. Tadashi Yanai, the man behind Fast Retailing (FRCOY), is acquiring the 161,000-square-foot Cordusio 2.0 building, a 19th-century structure situated just steps from the iconic Piazza Duomo. According to people familiar with the deal, the property has been under Uniqlo's roof since 2019 and was previously owned by U.S. real estate giant Hines. Fast Retailing hasn't commented on the transaction, but sources suggest this could be a long-term play to secure retail dominance in one of Europe's hottest shopping zones. Warning! GuruFocus has detected 1 Warning Sign with FRCOY. Milan isn't just fashionit's turning into a serious battleground for real estate power plays. Kering, parent of Gucci, shelled out 1.3 billion last year for a spot on Via Monte Napoleone, the city's most expensive shopping street. Yanai's move could be read as a signal: the world's biggest apparel players aren't just leasing anymorethey're planting flags. Starbucks made a similar bet when it chose this very squarePiazza Cordusiofor its first store in Italy. As Milan's historic blocks get a modern facelift, high-profile investors are starting to look at these addresses less like short-term retail leases and more like trophy assets. What makes this deal worth watching? Timing and positioning. Milan has been quietly reinventing itselftransforming faded neighborhoods into prime luxury districts. Yanai, with a net worth near $50 billion, may be positioning Fast Retailing for deeper European penetration just as competition for premier space heats up. While details remain private, the move could offer Fast Retailing strategic leverage in both branding and asset appreciation. If the trend continues, Milan may no longer just be the runwayit could be the asset class. This article first appeared on GuruFocus.
