Embassy News
 Arts & Living
 Travel & Hotel
 Medical Tourism New
 Letters to Editor
 Photo Gallery
 News Media Link
 TV Schedule Link
 News English
 Hospitals & Clinics
 Flea Market
 Moving & Packaging
 Religious Service
 Korean Classes
 Korean Weather
 Real Estate
 Home Stay
 Room Mate
 English Teaching
 Job Offered/Wanted
 Hotel Lounge
 Foreign Exchanges
 Korean Stock
 Business Center
 PR & Ads
 Arts & Performances
 Restaurants & Bars
 Tour & Travel
 Shopping Guide
 Foreign Missions
 Community Groups
 Foreign Workers
 Useful Services
 ST Banner Exchange
Tycoons on 2020 "Forbes Japan Rich List" Weather the Storm
Total Wealth of the 50 Richest Is Down Only 5%
Masayoshi Son
SINGAPORE — Tycoons on the 2020 Forbes Japan Rich List have been relatively unscathed by the Covid-19 pandemic so far, with their combined wealth down only 5% to US$168 billion. The complete list can be found in the May and June issue of Forbes Asia and the July issue of Forbes Japan.

The list is also available at and

Despite a $1 trillion stimulus package announced by Prime Minister Shinzo Abe in early April to combat the economic fallout from the coronavirus, Japan is bracing for a downturn. With the declaration of a national emergency and the postponement of the 2020 Olympic Games to next year, businesses are certain to take a hit. However, the yen has strengthened slightly against the dollar since March 2019, when fortunes were last measured, while the benchmark Nikkei 225 stock index has fallen more than 11%.

In all, just over half, or 28 listees saw their net worth decline. Among them is retail magnate Tadashi Yanai. His wealth shrank by $2.6 billion, though he remains the country’s richest for the second consecutive year with a $22.3 billion fortune. Following the outbreak, Yanai’s Fast Retailing closed stores in China, the U.S. and Europe, although most stores in China have since reopened.
SoftBank founder Masayoshi Son took the biggest hit in dollar terms. His net worth fell by $3.5 billion to $20.5 billion after setbacks such as the shelved IPO of office-sharing firm WeWork, in which SoftBank is the largest shareholder. Son remains at No. 2 on the list and is also featured on the cover of the May/June issue of Forbes Asia.

Seventeen listees saw their wealth rise, led by Takemitsu Takizaki (No. 3). The founder of Keyence, a maker of sensors, added $1.2 billion to his fortune for a total of $19.8 billion. Keyence enjoys high margins for its factory automation products and being cash-rich is well-placed to withstand any sales decline. Nobutada Saji of Suntory Holdings retains the No. 4 spot with a net worth of $9.4 billion, even as his fortune, which he shares with family, fell by $1.4 billion compared to a year ago.

Rounding out the top 5 is Takahisa Takahara, president and CEO of Tokyo-based Unicharm. Surging demand for the company’s face masks and disinfectant wipes has boosted its shares by more than 11% since last year, lifting the net worth of Takahara by 13% to $5.9 billion.

Another notable gainer is Masahiro Noda (No. 16), founder of IT systems integrator Obic. Noda’s fortune rose by a third to $3.14 billion, tracking a 32% gain in the company’s shares.

Pachinko mogul Kazuo Okada (No. 34), founder of Universal Entertainment, on the other hand, saw the biggest drop in percentage terms. His net worth declined 42% to $1.19 billion. Okada’s wealth is one of 38 fortunes worth $1 billion or more on the list, seven fewer than a year ago.

There are three new entrants, including Yoshio Tsuchiya (No. 12), the richest newcomer with a net worth of $3.3 billion. His listed apparel retailer Workman makes and sells clothes and other gear for factory and construction workers. Shigefumi Wada (No. 31, $1.25 billion) is cofounder of listed business solutions software provider Obic Business Consultants, in which Masahiro Noda’s firm is an investor. Masaru Wasami (No. 43), founder of logistics outfit Maruwa Unyu Kikan, also joins the list with $940 million. His company counts Amazon as one of its customers.

Two tycoons returned to this year’s list: Hirokazu Sugiura (No. 45), founder of drugstore chain Sugi Holdings, with a net worth of $910 million, and Yoji Sato (No. 50), who just made the cut with a fortune of $810 million. Sato’s Dynam Japan Holdings is one of the country’s biggest pachinko operators. A tech fortune previously listed under Minoru and Yuji Otsuka (No. 17, $3.13 billion) is now listed under son Yuji, after his father Minoru’s death last September.

Five dropped from the ranks, including discount clothing retailer Nobutoshi Shimamura. The minimum to make the list was $810 million, down from $900 million last year.

The top 10 richest in Japan are:
1) Tadashi Yanai; US$22.3 billion
2) Masayoshi Son; $20.5 billion
3) Takemitsu Takizaki; $19.8 billion
4) Nobutada Saji; $9.4 billion
5) Takahisa Takahara; $5.9 billion
6) Hiroshi Mikitani; $5.4 billion
7) Yasumitsu Shigeta; $4.7 billion
8) Hideyuki Busujima; $4.1 billion
9) Akio Nitori; $4 billion
10) Akira Mori; $3.9 billion

The list was compiled using information from the individuals, stock exchanges, analysts, company filings and other sources. Private companies were valued by using financial ratios and other comparisons with similar, publicly traded companies. Fortunes often include assets owned by other family members. Net worths were based on stock prices and exchange rates as of the close of markets on April 10, 2020 and hence in some cases differ from the net worths that appear on the World’s Billionaires list, which used stock prices from March 18, 2020.

For more information, visit and

About Forbes

The defining voice of entrepreneurial capitalism, 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 120 million people worldwide through its trusted journalism, signature LIVE events, custom marketing programs and 40 licensed local editions in 70 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 Ashley Silitonga
cell: +65 9697 0007
cell: +65 9025 3532

Related Articles
    Malaysia's 50 Richest on Forbes List See ...
    Listof Taiwan's 50 Richest See Mixed Fortunes
    Fobes Asia Recognizes Leading Altruists in ...
    Forbes Reveals Asia's Top 20 Businesswomen
    Wealth of Philippines' 50 Richest on Forbes ...
    Forbes Asia Announces Asia's 2021 Best Under A ...
    Singapore's 50 Richest on Forbes List See ...
    Forbes Asia Releases "Inaugural 100 to Watch"
    Wealth of Thailand's 50 Richest Rises More ...
    Seo Jung-Jin of Celltrion Tops List for 1st ...
    Industrial Bank of China Maintains Top Spot on ...
    Wealth of Taiwan's 50 Richest on Forbes List ...
    2,755 Billionaires Announced in Forbes 35th ...
    Li Ka-Shing Regains Top Spot on 2021 Forbes ...
    Tycoons on Forbes' 2020 List of Indonesia's 50 ...
    Wealth of 400 Members on 2020 Forbes China ...
    Forbes List of India's 100 Richest Shows Gains ...
    Pandemic Reduces Philippines Rich's Wealth
    Forbes Asia's Power Businesswomen List ...
    Forbes Publishes 34th List of Global ...
    Forbes Releases Annual "30 Under 30 Asia" List
    Forbes Asia Reveals 30 Altruists of ...
    Forbes Asia Launches Inaugural "Best Over A ...
    Lee Kun-Hee Retains No. 1 Spot for 11th Year
    Forbes Announces 4th "30 Under 30 Asia" List
    Companies from China Dominate Forbes Asia's ...
    S. Korea's Lee Kun-Hee Drops to No. 2 Spot on ...
    Forbes Asia's Fabulous 50 List Features A ...
    Singapore's Tycoons on Forbes Rich List See ...
    Forbes Announces World's Biggest Public ...
    Forbes Launches 2017 Global Game Changers List
    Bill Gates Tops List of Forbes’ 2017 Ranking ...
    Forbes Asia Names Cheng Wei as Businessman of ...
    Samsung's Lee Kun-Hee Is the Richest Person in ...
    Tycoons on Forbes Japan List See Wealth Rise ...
    Suh Kyung-Bae Named as "Businessman of the ...
    Record 35 Billionaires on This Year’s ...
    Putin Tops Forbes' 2014 Ranking of World's ...
    Masayoshi Son (孫正義), Japan’s Richest Man
    Forbes & World’s Most Powerful People ...
    Lee Kun-Hee of Samsung Group Tops Forbes' ...
    Forbes Asia Names CP Group's Dhanin ...
    Indonesia Boasts Record 21 Billionaires
    Number of China's Billionaires Hits Record ...
    China, India Tie for Top Place on Forbes ...
    More New Faces on Forbes Asia's "Best Under a ...
    Tech Tycoon Terry Gou, Richest Taiwanese
    Number of Asian Billionaires Soars to 234 from ...
    Lee Kun-Hee Reclaims Richest Korean Title






The Seoul Times, Shinheung-ro 36ga-gil 24-4, Yongsan-gu, Seoul, Korea 04337 (ZC)
Office: 82-10-6606-6188
Copyrights 2000 The Seoul Times Company  ST Banner Exchange