Page 49 - Forbes - Asia (April 2019)

THE LIST

1.
TADASHI YANAI
$24.9 BILLION S
FAST RETAILING
AGE: 70

2.
MASAYOSHI SON
$24 BILLION S
SOFTBANK
AGE: 61

3.
TAKEMITSU
TAKIZAKI
$18.6 BILLION S
KEYENCE
AGE: 73

4.
NOBUTADA SAJI
$10.8 BILLION T
SUNTORY HOLDINGS
AGE: 73

5.
HIROSHI MIKITANI
$6 BILLION S
TADASHI YANAI: THE ART OF RETAIL RAKUTEN
AGE: 54
Tadashi Yanai, 70, created and runs Tokyo-listed global apparel giant Fast Retailing, parent of
the Uniqlo chain. He and his family own a 44% stake in the company, giving them a net worth of 6.
$24.9 billion, up 29% from last year and pushing Yanai past Softbank’s Masayoshi Son to top this YASUMITSU
year’s list of Japan’s 50 richest people. SHIGETA
For decades, companies such as Inditex’s Zara, H&M and Gap have dominated the fast fashion $5.4 BILLION S
industry. However, Yanai’s aggressive expansion enabled Fast Retailing to surpass Gap’s annual HIKARI TSUSHIN
sales in 2016, making it the world’s third-largest clothing retailer, behind No. 1 Inditex of Spain AGE: 54
and H&M from Sweden. In the fiscal year through August 2018, Fast Retailing had revenues of
2.13 trillion yen ($19.4 billion). The company’s stated goal is to become the world’s largest apparel 7.
retailer (by sales). TAKAHISA
To meet that goal, Yanai is making widespread investments, especially in celebrity sponsorship TAKAHARA
deals to raise the company’s profile. He has also engaged athletes as brand ambassadors, including $5.2 BILLION Ì
Japanese tennis star Kei Nishikori, Australian golfer Adam Scott and British wheelchair tennis player UNICHARM
Gordon Reid. The company also asks athletes to give advice on product development. AGE: 57
Fast Retailing is collaborating as well with art museums. It is an official sponsor of New York’s
Museum of Modern Art, the Tate Modern in London and Barcelona’s Museum of Contemporary Art.
The company’s relationships with museums are strategic, allowing it to network with famous artists. 8.
AKIRA MORI
One strategy driving Fast Retailing’s growth has been Yanai’s ability to work with innovators $4.7 BILLION T
in the retail field. Two decades ago, Yanai hired American designer John Jay to run the company’s
IRWIN WONG/FORBES JAPAN year. In October 2014, Jay became the company’s global creative director. Yanai also convinced ÌNEW TO LIST 3RETURNEE
MORI TRUST
fleecewear campaign. It was a huge success, with the company selling 26 million pieces the following
AGE: 82
Kashiwa Satoh, a renowned Japanese graphic designer, to join the company. Satoh changed the
company’s logo in 2006 and played an active part as creative director of its flagship store in New York.
SUP TDOWN WXFLAT
—This article was adapted from Forbes Japan, a licensee edition of Forbes Media.

APRIL 2019 FORBES ASIA | 45