Takeo Kawasaki, founder of electronic sensor maker Keyence, surpassed UniqloFounder Masaishi Yanai has become the new richest man in Japan.
By Monday's close, Keynes shares had nearly doubled this year, pushing Wuguang Kawasaki's net worth soaring to $38.2 billion. By contrast, Yanai has lost more than 1/5 of his wealth this year and is now worth $35.5 billion.
This is an example of a change in the wealth landscape during the COVID-19 epidemic, when a factory automation entrepreneur replaced the retail giant at the top of Japan's rich list. The epidemic has spurred demand for factory automation, and Keynes currently has an operating margin of more than 50%.
In addition, Keynes is about to be included in Japan's blue-chip index, the Nikkei 225, which also boosted the company's share price.
Takeshi Kawasaki, 76, founded Keynes in 1974 and steadily developed it into a giant manufacturer of sensors, measuring instruments, machine vision systems and other industrial automation equipment. The mysterious Osaka-based company is known for its high profit margins and high salaries.
Keynes' shares have risen 96 per cent since the start of the year, giving the company a market capitalization of about $167 billion. By this standard, it is now the second largest listed company in Japan, after the car giant Toyota.
Takeuguang Kawasaki, who owns 21% of Keenes, has increased his personal wealth by $5.9 billion this year and is now the ninth richest man in Asia.
At the same time, Yanai's worth has plummeted by $9.7 billion this year, equivalent to the loss of about 22% of his personal wealth. Fast Retailing, parent company of UniqloThe group's share price has fallen 18% this year.
Softbank Corp.The group CEO Masayoshi son currently has a net worth of $26.9 billion, ranking third on Japan's rich list.