Tag: uniqlo

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.

Uniqlo Japan will offer tax free shopping for overseas visitors to Japan at 31 large stores across the country.

The service debited last week and allows overseas shoppers to avoid Japan’s eight per cent consumption tax.

Uniqlo previously offered tax free shopping to overseas tourists at outlets within Haneda and Chubu international airports. But following a Japanese Government revision of the consumption tax exemption system for inbound tourists last October, Uniqlo launched tax free shopping on a trial basis at the Uniqlo Ginza flagship store and Shinjuku East Exit Store in December – including dedicated tax free check out points and increased multilingual staff.

Uniqlo describes the response as “overwhelmingly positive” encouraging it to expand the service to 31 additional stores popular with tourists. More stores will follow.

Government data shows the number of inbound tourists into Japan reached a record high in 2014.

To use the service customers require a non-Japanese passport (a copy or other forms of ID are unacceptable). Foreign residents of Japan are ineligible. Customers must present the purchased items and receipt to be eligible.