Page 7 - Forbes - Asia (April 2019)

SIDELINES

Compare and Contrast

here’s a study in contrast between this issue’s two
features, the 30 Under 30 Asia list and Japan’s 50
richest list. The 30 Under 30 Asia highlights some of
Tthe best and brightest of the region’s next generation.
Japan’s wealthiest list is largely old money—the average age of
the top ten richest is 67. Japan’s population, as most know,
is rapidly aging, and the country is suffering a net decline
in population.
Yet as Forbes Asia Chief Economics Commentator Yuwa
Hendrick-Wong notes in his column, Japan’s economy is
doing better than what’s normally portrayed. The country,
for example, is encouraging more women to participate
in the labor force, and creating a fairer system of wages
and employment practices to benefit both companies and
employees.
One more item supporting the idea of Japan’s resilience is
that 30 entries on this year’s 30 Under 30 Asia list are from
Japan, or 10% of the regional total. In fact, Japan’s Under 30
members are the third-largest cohort in Asia after those from
India and China. The lesson is that Japan’s animal spirits are
down but not out. This under 30 generation is taking risks
and finding ways to help Japan move to the next level of
development.
It should be remembered that Japan’s rise to being one of
the world’s most developed economies came in good measure
from the success of its entrepreneurs, such as Kiichiro Toyoda,
who created Toyota Motor, and Akio Morita, who cofounded
Sony. This entrepreneurial tradition is alive and well in
current rich listers such as Masayoshi Son, Tadashi Yanai and
cover subject Hiroshi Mikitani. With this worthy history,
Japan can, and should, do more to support its homegrown
entrepreneurs—and thus help revitalize growth.

Justin Doebele
Editor, Forbes Asia
editor@forbesasia.com

APRIL 2019 FORBES ASIA | 3