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A New Entry in Forbes

05, March 2009

On the 19th of March, a new Forbes Magazine edition will be released highlighting the top 40 wealthiest individuals in Japan. CEO Mr. Tadashi Yanai of Fast Retailing, the umbrella company responsible for Uniqlo brand clothing, has become number one on the list for the first time. With a net worth of 570,000,000,000 JPY (6,100,000,000 USD), up 14 million dollars from the previous year, Mr. Yanai boosted himself into first place.

With a combined net worth this year of 69,500,000,000 USD, the total net worth of all Forbes 40 individuals in Asia has decreased from last year's total of 89,900,000,000 USD. Only four individuals out of 40 including Mr. Yanai were able to increase their net worth this year. This is attributed to the fluctuation of the dollar and yen as well as to steep drops in stock prices.

Yamauchi Hiroshi, the executive advisor to Nintendo Corporation, for example, saw a drop in personal net worth from 7,800,000,000 USD to 4,500,000,000 USD. This drop places him in 3rd on the top 40 list. Finally, the number of individuals who own more than 1 billion USD worth of property also decreased from 29 to 20 individuals.

March 5, 2009 Nikkei Net

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