In this article, we will look at the 30 Wealthiest People in Japan.
Japan’s Economy: An Outlook
On June 10, Reuters reported that Japan’s economy shrank a revised 1.8% annualized, less than the previously estimated 2% contraction in the first quarter of 2024. The less-than-expected decline provides hope for a potential rise in interest rates by the central bank. Private consumption in the country declined by 0.7% for the fourth time in a row, due to increasing costs. Business investment suggests a potential pick up, however, analysts are cautious that the economy could decline further, due to a weak yen and supply chain disruptions in the automotive sector in Japan, especially Toyota which halted 6 production lines in the country. The Bank of Japan is planning to reduce its bond-buying program to counter inflation. According to the IMF, Japan has a GDP of $4.11 trillion as of 2024.
Wealth in Japan
On May 29, Forbes reported that the total wealth of the 50 richest billionaires in Japan increased by over 4% to $200 billion in 2024. Berkshire Hathaway has invested billions of dollars in Japan, leading to a 35-year high surge of the Nikkei 225 benchmark stock index. Those gains were however balanced, as the yen declined by 15%, compared to the last time net worths were measured in 2023. 16 out of 50 of the wealthiest billionaires in Japan experienced a rise in their fortunes, whereas more than half of the billionaires’ wealth declined, compared to 2023.
The Media and Entertainment Leader in Japan
Japan is one of the largest media and entertainment markets. It is home to some of the high quality producers of entertainment content and hardware devices. Sony Group (NYSE:SONY) is one of the largest companies in Japan, standing at the forefront of innovation and technology for more than 75 years. It is a global powerhouse operating across high growth markets such as electronics, entertainment, and financial services. However, it plans for a partial spin off of its financial services division in October 2025. Sony is a household name not only in Japan but across the world as well. It is the largest manufacturer of image sensors and a leader in the premium TV market. On May 14, Reuters reported that the company expects a 5% surge in its operating profit in 2024 due to high demand for its image sensors even though the PlayStation 5 console logged lower-than-expected sales. Its image sensors are used in devices ranging from smartphones to digital cameras and the company’s entertainment business which has a robust global reach. The company intends to benefit from its increased focus on creation technology, such as CMOS image sensors and game engines.
The company recorded 20.8 million sales for PlayStation 5, slightly below the 21 million target in FY2023. Sony Group (NYSE:SONY) also plans for a five-for-one stock split to grow its investor base and spend nearly $1.6 billion on a share buyback. In 2023, Sony Group (NYSE:SONY) recorded a revenue of 13 trillion Yen, up 19% from the previous year. Its entertainment businesses Game & Network Services, Music, and Pictures, accounted for nearly 60% of Sony’s consolidated sales in the financial year 2023.
Recently, Sony Pictures expressed its interest in buying Paramount for $26 billion, with Apollo. If the deal goes through, it could bolster Sony’s position in the market, potentially resulting in a 20% share of the North American box office.
In 2023, over 80% of operating income in SONY’s entertainment technology & services was generated from businesses related to creation, which includes imaging, sports, virtual production, and professional audio. The company aims to accelerate digital transformation in the media and broadcasting industry. It recently partnered with KDDI to launch a solution by 2024 end, combining Sony’s video transmission devices with KDDI’s 5G standalone (5G SA) network. This will help enhance video production workflows by enabling stable wireless transmission and remote production capabilities. It also addresses the growing market trends toward cloud-based, IP-centric video production, which requires efficiency in operations. Specific use cases of the advanced broadcasting solutions will be exhibited at KDDI’s booth at MWC Barcelona 2024.
Now, let’s look at the 30 wealthiest people in Japan. You can also check out 30 Wealthiest People in Hong Kong.
Photo by Jezael Melgoza on Unsplash
Methodology
To compile our list of the 30 wealthiest people in Japan, we consulted the real time billionaires data from Forbes and ranked the wealthiest people in Japan in ascending order of their net worths, as of June 24.
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30 Wealthiest People in Japan
30. Hisao Nagata
Net Worth as of June 24: $1.2 billion
Hisao Nagata is the chairman and founder of a discount supermarket chain engaged in retail IT and AI systems, Trial Holdings. His son serves as the director of the company. The company has developed technology to reduce labor costs and improve efficiency. It has more than 300 stores in Japan and $4.4 billion in revenue as of 2023. As of June 24, the billionaire has a net worth of $1.2 billion.
29. Fumio Kaneko
Net Worth as of June 24: $1.2 billion
Fumio Kaneko is the president of Daiei Kankyo, a waste management company that he founded in 1979. The company posted a revenue of nearly $485 million in the fiscal year through March 2024. The billionaire has a net worth of $1.2 billion.
28. Keiichi Shibahara
Net Worth as of June 24: $1.2 billion
Keiichi Shibahara started a company to provide home nursing care for patients with permanent diseases or ones requiring hospice care, Amvis Holdings. Shibahara worked as a researcher for 20 years and then started his own company at the age of 48. He is ranked 28th on our list of wealthiest people in Japan.
27. Nobutoshi Shimamura
Net Worth as of June 24: $1.3 billion
Nobutoshi Shimamura is the founder of a discount clothing retailer in Japan, Shimamura Co. The Chain boasts over 2,200 stores. He is worth $1.3 billion as of June 24.
26. Yoshiaki Yoshida
Net Worth as of June 24: $1.3 billion
Yoshiaki Yoshida started a beauty brand in Japan in 1972, DHC. The company sells its products through online and retail stores. As of June 24, the billionaire has a net worth of $1.3 billion.
25. Nobutada Saji
Net Worth as of June 24: $1.3 billion
Nobutada Saji is ranked 25th on our list of the wealthiest people in Japan. He chairs the beverage company, Suntory Holdings. He served as the president of the company till 2014, then he handed over the company to nonfamily members. He owns a minority stake in the company and has a net worth of $1.3 billion.
24. Hisako Yamamoto
Net Worth as of June 24: $1.3 billion
Hisako Yamamoto is the daughter of the late honorary chairman Masatoshi Ito. She raised her fortune from her stake in the global retail company, Seven & I Holdings. The company has nearly 80,000 stores across 19 countries and approximately $80 billion in annual revenue. She is ranked 24th on our list.
23. Junro Ito
Net Worth as of June 24: $1.3 billion
Junro Ito is the son of Seven & I Holding’s honorary chairman Masatoshi Ito. He is ranked among the wealthiest people in Japan.
22. Yasuhisa Ito
Net Worth as of June 24: $1.3 billion
Yasuhisa Ito is the brother of Junro Ito. He is one of the richest billionaires in Japan, with a net worth of $1.3 billion.
21. Masaaki Arai
Net Worth as of June 24: $1.4 billion
Masaaki Arai is the chairman and founder of a property development company, called Open House Group. Founded in 1997, the property developer has sold over 60,000 homes in Tokyo. Arai has a net worth of $1.4 billion, as of June 24.
20. Yusaku Maezawa
Net Worth as of June 24: $1.4 billion
Yusaku Maezawa is the founder of one of the largest online fashion malls, Zozotown in Japan. In 2019, the billionaire resigned as the CEO of the company and sold his stake to Yahoo Japan for $2.3 billion. He is ranked 20th on our list.
19. Toshio Motoya
Net Worth as of June 24: $1.6 billion
Toshio Motoya is the founder of APA Group, a hotel chain. Motoya serves as the chairman of the group, while his elder son is the president and CEO. He has a net worth of $1.6 billion, as of June 24.
18. Kagemasa Kozuki
Net Worth as of June 24: $1.8 billion
Kagemasa Kozuki is the chairman and founder of Konami Holdings, a video games developer. His company developed gaming machines for casinos. He also operates one of the biggest fitness club brands in Japan. He is worth $1.8 billion, as of June 24.
17. Masateru Uno & family
Net Worth as of June 24: $1.8billion
Masateru Uno is the CEO, chairman, and founder of the pharmaceutical company, Cosmos Pharmaceutical. The company has 1,400 stores in Japan and China. He is ranked 17th on our list.
16. Katsumi Tada
Net Worth as of June 24: $2.0 billion
Katsumi Tada is a real estate developer who founded the property company, Daito Trust Construction. He stepped down as the chairman of the company and sold his shares in 2011. He is one of the richest billionaires in Japan.
15. Yoshiko Mori
Net Worth as of June 24: $2.0 billion
Yoshiko Mori is the widow of real estate mogul Minoru Mori. She inherited her late husband’s estate. She is ranked 15th on our list with a net worth of $2 billion.
14. Kentaro Ogawa
Net Worth as of June 24: $2.4 billion
Kentaro Ogawa is the founder of the fast food company, Zensho Holdings. It has a network of over 10,100 restaurants. Ogawa has a net worth of $2.4 billion.
13. Yuji Otsuka
Net Worth as of June 24: $2.9 billion
Yuji Otsuka inherited the Otsuka Corp from his late father. The company develops software and supplies office copy machines. He took over the company after his father retired in 2001. Otsuka generated a revenue of $7.1 billion in 2023.
12. Masahiro Noda
Net Worth as of June 24: $3.1 billion
Masahiro Noda is the chief executive officer and chairman of Obic, a computer system integrator and custom software maker. As of June 24, he has a net worth of $3.1 billion.
11. Akio Nitori
Net Worth as of June 24: $3.1 billion
Akio Nitori is the founder of a home furnishing chain, Nitori Holdings. The chain has stores in mainland China, Taiwan, and the U.S. As of June 24, he has a net worth of $3.1 billion.
10. Shigenobu Nagamori
Net Worth as of June 24: $3.4 billion
Shigenobu Nagamori is the executive chairman and founder of Nidec. The company manufactures motors for hard disk drives and optical drives. As of June 24, Nagamori is worth $3.4 billion.
9. Hiroshi Mikitani
Net Worth as of June 24: $3.5 billion
Hiroshi Mikitani is the chief executive officer and founder of one of the biggest e-commerce retailers in Japan, Rakuten. He is one of the richest billionaires in Japan.
8. Akira Mori & family
Net Worth as of June 24: $3.6 billion
Akira Mori is the owner and chairman of Mori Trust, a real estate developer. In 2023, the company bought a nearly 50% stake in a 45-story New York office building for $700 million.
7. Masahiro Miki
Net Worth as of June 24: $3.6 billion
Masahiro Miki has a a majority stake in a shoe store chain ABC-Mart. Miki served as the chairman of the company til 2007. He is one of the wealthiest people in Japan.
6. Takao Yasuda
Net Worth as of June 24: $4.0 billion
Takao Yasuda is the founder of the retail company, Pan Pacific International Holdings. The company has more than 700 stores. He is ranked 6th on our list.
5. Yasumitsu Shigeta
Net Worth as of June 24: $4.6 billion
Yasumitsu Shigeta chairs the Hikari Tsushin, which sells mobile phones at its HIT Shop chain of stores. He is the 5th wealthiest person in Japan, with a net worth of $4.6 billion.