Uniqlo chief regains spot as Japan's richest but wealth down sharply

Tadashi Yanai, founder and chief of Japanese clothing retail chain Uniqlo, has regained his title as the richest person in Japan even as a global economic slowdown has eroded his wealth sharply,

I am sure the LDP will be equally concerned, and respond with a speed that you never see when the working public encounters economic difficulties.

That big additional budget to help Japan Inc. because of the Ukraine crisis probably has some money with his name on it.

He did have to close down a bunch of stores in Russia (after he was shamed for it in the media following his initial response).

Yanai has been getting rich off the backs of cheap Chinese labor….

Blood money, I would spit on sand that the pavement that his shoes walked on if I could. Shameless exploitation of slave labour for this day and age. Like products from Germany, Uniqlo products has the same soggy fishy feel to me.

Don't forget these guys when you blame China for the yellow sand. It's in part, after all, due to the demand of cashmere and materials UniQlo uses on the cheap.

Admit, deep in your heart you just only envy him. lol

Congratulations! We are happy for you Mr. Yanai!

the lockdowns, attack on fossil energy, printing of money, instigated war on Ukraine, distortion of the supply chain, etc has led to hyperinflation that brought down wealth by 40%. Your 100k last year is only worth 60k now. The agenda is - all will be poor and the few elites will be filthy rich. Remember the Davos guys motto: “You will own nothing but you will be happy.” Thanks but no thanks

We don’t have hyperinflation, this is just 1970’s garden variety inflation, fortunately, (so far).

Otherwise everyone’s numeric wealth would be way up like when Zimbabwe was printing billion dollar notes.

The interesting thing for me here is the Japanese rich list wouldn’t make a dent in japans public debt. Bad, bad problem.

There is an interesting comment from a Yahoo Japan commentator about this situation.

"Japan just loves to punish any rich or successful people. Japan is a civilization that idolizes poverty collectively."

It is very disturbing that Kishida is now starting to emulate China and Vietnam.

https://www.bloomberg.com/news/features/2022-06-01/japan-leader-fumio-kishida-s-new-capitalism-scares-some-investors

That’s a greta article from Bloomberg, thanks for sharing.

The surprising thing, or disappointing perhaps from my perspective, is that Krazy Kishida has high poll ratings.

Not sure it has much to do with his New Capitalism = Socialism, but maybe it does? Kishida says he has finance experience but then he has been in politics for the last 29 years… what kind of experience does he really have?

New Capitalism = Socialism

Mikitani would say that, he's made all his money, now he wants to keep it all to himself. He's probably longing for the good ole days too when the average school kid went hungry because an apple was ¥600.

Not sure it has much to do with his New Capitalism = Socialism

The problem here is that LDP elites and Kishida are likely giving money to zombified companies or crony capitalists of gigantic incompetence.

It is not even capitalism or socialism! It is basically feudalism because it enriches Japanese dynasties of long-time elite landlords that are barely affected by any bad event in history. The so-called "banker" in the Bloomberg article is also a dynastic elite, and this speaks of how much meritocracy Japan truly has.