It has been two weeks since a devastating earthquake and tsunami wrecked havoc on the world’s third largest economy. No one was spared, least of all the nation’s wealthiest tycoons and their companies. Here is a roundup of how some of them were impacted and what they’ve been doing to help in the aftermath.
Net Worth: $6.3 billion
Stock of his Fast Retailing fell 20% in days after earthquake, knocking $1.3 billion from his net worth. No worries: he personally gave $12 million, which appears to be the biggest individual donation to recovery efforts so far. His retail group has donated $8.6 million worth of clothing to victims and $5 million in cash. The discount clothing retailer is planning to set up donation boxes in its 2,200 Uniqlo, Theory and other stores around the world.
Net Worth: $8.2 billion
Company created an iPhone application allowing its customers to donate; has also sent 12,000 cellphones with unlimited service to the affected area to be distributed free to aid agencies, community leaders and families. Also offered emergency message board application for smart phones. Some of his Softbank shops closed, mainly in the affected northeast area where phone reception was affected by the earthquake and rolling outages.
Net Worth: $2.3 billion
The mobile gaming outfit set up donation site where users buy original avatar “Gree Volunteer” for 100 to 10,000 Gold (Gree’s currency); the company will donate 1 yen for every gold. Says Tanaka, 34, “From the moment the earthquake hit, GREE has been used to confirm the safety of many people. GREE is now serving as "lifeline" for those effected, and we are making every effort never to let the service stop running. We will continue to look into any possible contributions we may be able to make.”
Net Worth: $2.1 billion
Company spokesperson said logistics disruptions and customer hoarding are posing significant challenges to the retail giant. About 350 of 13,219 Seven Eleven stores are closed, most in the northeast. Some Ito Yokado Supermarkets are selling products outdoors, having turned over the stores for use as shelters for refugees. The company’s spokesperson added that Seven & I considers it a “mission” to keep stores open and daily life on a routine schedule. The company is also supplying 30,000 2-litre mineral water bottles, 1,000 pastries, 14 tons of bananas, 90 blankets to Miyagi and 1,728 2-litre mineral water bottles to Fukushima via ground transportation and helicopter as well as 10,000 blankets and 4,800 200-g instant steamed rice packs to Miyagi and Iwate, one water truck to Miyagi, 4,225 bags of English bread and 1,693 bags of rolls to Fukushima. All Seven & I stores will also be fundraising.
Kentaro Ogawa
Net Worth: $530 million
Initially three hundred of Zensho’s more than 3,000 beef bowl and other shops shut down, about two thirds have since reopened. One in Kesennuma can’t be reached. Locations have sent teams into disaster zone to distribute boiled rice and help keep restaurants open. Stores are shutting off their lighted signs to save energy in regions with limited power. Had a “soup run” in Miyagi, serving 1,600 people, more are scheduled.
Saji family
Net Worth: $7.7 billion
Family’s Suntory shipped 360,000 bottles of Suntory Natural Mineral Water on March 12 and is donating additional bottles. The company also donated $3.7 million in cash and is turning off outdoor advertising lights, cutting back on electricity use at business sites to conserve energy. (Nobutada Saji, who runs company, didn’t make billionaires list because we learned details of how much he owns in the private company.)
Net Worth: $5.9 billion
His developer Mori Trust set up 71 fundraising locations throughout his office and residential buildings, hotels and golf properties; donated $250,000.
Net Worth: $5.6 billion
Chief of online shopping mall operator, Rakuten, which donated $3.7 million to relief efforts; also fundraising via Rakuten Securities, which has raised over $3 million, and Edy, the prepaid electric money service, which has raised over $200,000.
Net Worth: $2.8 billion
His Daito Trust Construction donated $3.7 million to affected areas through the Japanese Red Cross. Preparing 100 rental apartment units for people affected by the earthquake: 6-months free rent, no deposit, no key money, no agent fees plus 6-months of free utilities. The company, which is also fundraising among employees, continues to inspect its properties.
Net Worth: $2.4 billion
His pachinko gamer Maruhan donated $6 million, including $370,000 from company employees. The company is supplying drinks, food and volunteers as well as fundraising at Maruhan locations across Japan. The company has had to operate shorter hours where rolling blackout takes place.
Net Worth: $1.1 billion
His online fashion retailer Start Today is selling special t-shirts for $25 each and donating all of the proceeds to the Japanese Red Cross. So far it’s sold 140,238 of them for $3.5 million. They are available in seven colors and 11 sizes, including children’s. Site posts updates constantly: http://zozo.jp/one/world/
Net Worth: $1 billion
His Sega Sammy Holdings donated $2.5 million. Amusement facilities in eastern Japan are closed until further notice.
Net Worth: $1 billion
Chairman emeritus of Kyocera Group; the company is donating $1.2 million for relief aid and reconstruction. The company will also set up fundraising collections for its employees across the world. Trained Buddhist priest, Inamori has made a significant personal donation, says his personal assistant, but hasn’t released details.
Net Worth: $890 million
Founded discount retailer Don Quijote; saw his stores emptied of essentials like water and flashlights right after the earthquake; eight stores closed. Public relations staff called in to assist restocking efforts.
Kenji Kasahara
Net Worth:$380 million
Apparently closed Mixi offices for a week. To help track missing friends, added page that lets users check all their friends, family’s log in histories at once; users can let others know their location by a GPS “mixi check in.” With help of 2.2 million users, raised $2 million. Preserving energy by limiting usage of heat and copiers.
Akio Toyoda
Net Worth: $190 million
Carmaker Toyoda gave $3.7 million to relief efforts. In the days after the disaster, shares plunged when automaker shut down 11 factories, losing up to $80 million in profit a day. Faces material shortages.