- Takemitsu Takizaki, the founding father of sensor-making producer Keyence, is now Japan’s richest man.
- Keyence, which Takizaki based in 1974, was just lately chosen to enter Japan’s blue-chip inventory index.
- His workers are a few of the best-paid in Japan, incomes a median $170,000 a 12 months.
The richest man in Japan is now Takemitsu Takizaki, the founding father of automation sensor producer Keyence, in response to Bloomberg’s Billionaire Index.
His fortune has grown to $38.2 billion, surpassing that of Uniqlo mogul Tadashi Yanai, who misplaced $9.7 billion this 12 months to date and is now price $35.5 billion, the index reveals.
While Yanai’s vogue empire has taken successful in the course of the pandemic, Takizaki’s manufacturing firm Keyence has seen its shares skyrocket by 93.6% because the begin of 2020.
Takizaki, 76, retains a low profile. He began his Osaka-based firm in 1974 and by no means attended faculty, in response to Bloomberg.
One of his successes was serving to to invent precision sensors for meeting strains that produced automobiles for Toyota and chips for Toshiba. The sensors are a staple product for Keyence, which additionally makes barcode scanners and microscopes.
“He’s a very rare type in Japan,” Mitsushige Akino, an government officer at Ichiyoshi Asset Management Co. in Tokyo, advised Bloomberg in 2015. “He valued profit margin over sales and grew the company steadily.”
Takizaki’s Keyence is so profitable partly as a result of it outsources manufacturing — sending uncooked supplies to element suppliers, then taking these elements and sending them to assemblers earlier than performing ultimate inspections, in response to The Financial Times. By splitting up the manufacturing chain, the corporate lowers the chance of its suppliers studying from its operations and finally changing into its rivals.
Keyence, which has workplaces in 46 international locations, additionally has a repute for paying its workers effectively, with month-to-month bonuses primarily based on their earnings. Its workers earn a few of the highest salaries in Japan, at a median $170,000 a 12 months, per The Times.
It’s a wage mannequin that an knowledgeable referred to as “one of the best examples of meritocracy in Japan,” in response to The Times.
When Takizaki retired from his function as the corporate chairman in 2015, his fortune stood at $7.2 billion and he was the fourth-richest man in Japan, in response to Bloomberg. But over the following six years, his wealth would see a more-than fivefold enhance.
That development has partly been fueled by a growth in demand for manufacturing facility automation in Japan, because the pandemic forces corporations to hunt methods to maintain manufacturing going with out in-person contact.
To prime that off, Keyence was additionally certainly one of three corporations to just lately be chosen to enter the Nikkei 225, Japan’s blue-chip inventory index, alongside online game maker Nintendo and digital element producer Murata.
As a outcome, Takizaki, who’s now Keyence’s honorary chairman and owns 21% of Keyence in response to Bloomberg, added $5.9 billion to his fortune this 12 months.
Keyence didn’t instantly reply to Insider’s request for remark for remark for this story.