Uniqlo founder tops Japan’s rich list

Retail mogul Tadashi Yanai has topped Forbes magazine’s list of the richest people in Japan.

The Uniqlo founder is reported to have a net worth of US$21.1 billion.

Last year, Yanai, 66, whose company Fast Retailing also owns a raft of other apparel brands including GU, was ranked second. But Forbes says soaring sales of his clothing empire have added $3.3 billion to his net worth.

Last year’s list topper, internet pioneer Masayoshi Son, who owns Softbank, was displaced into second, his net worth now estimated at $13.9 billion.

The nation’s richest family is that of Nobutada Saji, of beverage giant Suntory, with Saji himself ranking third and worth $10.9 billion.

Hiroshi Mikitani, the founder of online retail powerhouse Rakuten, is ranked fourth at $10.5 billion. His fortune soared 36 per cent in the last year alone, partly due to acquisitions of US website Ebates and investment in Uber rival Lyft.

The other retailer to make the top 10 is Masatoshi Ito, founder of the Ito-Yokado Group, parent of 7-Eleven, the Ito-Yokado supermarket chain, department stores, restaurants and speciality shops. His estimated worth is $3.8 billion.