The latest Forbes coverage of Japan’s Richest 2024 showcases the impact of overseas investors, primarily led by Warren Buffett and Berkshire Hathaway, on the country’s economy. Despite initial gains that saw the Nikkei 225 benchmark stock index reaching a 35-year high, these were partially offset by the devaluation of the yen by 15%. Consequently, the collective wealth of Japan’s richest individuals increased by just over 4% to a total of $200 billion.
Among the 16 tycoons who saw an increase in their fortunes, Tadashi Yanai, the billionaire behind Uniqlo, maintained his position at the top with a net worth of $38 billion, which increased by $2.6 billion. The most significant gain in dollar terms was recorded by Masayoshi Son of SoftBank Group, who climbed back to the second spot after adding $6.1 billion to his wealth, totaling $27 billion. Softbank’s successful IPO of its subsidiary, Arm Holdings, contributed significantly to Son’s wealth increase, with the latter boasting a market cap exceeding $100 billion.
The Sekiya family, benefiting from the resurgence of Japan’s semiconductor industry, made a noteworthy entry into the top five. Their wealth surged by nearly 150%, propelled by the impressive growth of Disco, a manufacturer of chipmaking equipment. Notably, the company expects a substantial rise in revenue and net profit in the first quarter of the fiscal year, reflecting a promising future for the Sekiya family, who now possess a net worth of $7.4 billion.
On the other hand, more than half of the individuals on the list witnessed a decline in their fortunes. Takemitsu Takizaki, founder of Keyence, slipped to the third spot after his wealth decreased by $1.6 billion, the most significant decline in dollar terms on the list, down to $21 billion. Nobutada Saji of Suntory retained the fourth position with a wealth of $9.3 billion, albeit facing a loss of $1 billion shared with his family.
The 2024 installment of Japan’s Richest welcomed five new entrants, with Yozo Shimano, chairman of Shimano, leading the pack. Other newcomers include Hisao Nagata of Trial Holdings, Yasuhide Uno of U-Next Holdings, Takaya Awata of Toridoll Holdings, and Shunsaku Sagami, the youngest member on the list, known for his M&A Research Institute utilizing AI for matchmaking in business deals. Additionally, hotelier Toshio Motoya returned to the ranks, pointing to the success of APA Group in the post-pandemic tourism rebound. Six individuals dropped off the list this year, including Masaru Wasami of AZ-Com Maruwa Holdings.
The methodology employed in compiling the list of Japan’s Richest 2024 involved gathering shareholding and financial data from various sources, including families, stock exchanges, annual reports, and analysts. The rankings encompass both individual and family fortunes, considering those shared among relatives, while valuing private companies based on publicly traded counterparts. Net worth calculations were based on stock prices and exchange rates as of May 10, 2024, with the minimum net worth threshold rising slightly to $980 million. The list can feature foreign individuals with significant ties to Japan, with the editors reserving the right to amend or remove listees based on new information.
