BY ANIS SHAKIRAH MOHD MUSLIMINJapan’s 50 Richest
Tourism
Takeover
J
apan has become a tourism hotspot, growing
steadily over the past i ve years. In 2017, a record
28.7 million tourists visited the island nation,
contributing nearly $40 billion to the economy,
nearly 18% more than in 2016, the latter according
to the Japan Tourism Agency. Most foreign tourists
hail from Asia, with two thirds coming from South
Korea, China and Taiwan. (To approach a common
language, Masatoshi Ito’s giant 7-Eleven chain in
Japan has reportedly started labeling prepared
foods in both English and Japanese.)
From 2011 to 2015, Japan’s tourism industry
grew 33% per year—one of the highest rates in
the world. Relaxed visa requirements for Asian
countries and the growth of discount airlines are
likely fueling the boom, says Takeshi Akagi, head
of research in Japan for real estate advisory i rm
Jones Lang LaSalle. h e Japanese government aims
to attract 40 million tourists by 2020, when Tokyo
will host the Summer Olympics.
h ese companies owned or run by some of
Japan’s richest—and one tycoon who hasn’t yet
made the list—are already benei ting from or bet-
ting on the boom in tourism.72 | FORBES ASIA APRIL 2018TAKAO YASUDA
His discount retailer Don Quijote posted 9% revenue growth in 2017, partly
fueled by demand from tourists. Popular products in some stores are
labeled in English, Chinese, Korean and Thai, and stores accept payment in
foreign currencies, including Chinese yuan and Thai baht.MIWAKO DATE
The president of Mori Trust and her father, Chairman Akira Mori (No. 5,
inset), are broadening the company in hospitality, partnering with
America’s Hilton last year to build a hotel-and-timeshare resort on
tourist-friendly Sesokojima Island in Okinawa.NUMBER OF FOREIGN TOURISTS TO JAPAN:SOURCE: 2014–2017 FROM JAPAN NATIONAL TOURISM
ORGANIZATION.2014 2015 2016 2017 201813.4
MIL19.7
MIL24
MIL28.7
MIL32
MIL^1(^1) FORECAST FROM JTB CORP.
DON QUIJOTE: TREVOR WILLIAMS/WIREIMAGE/GETTY IMAGES; MIWAKO DATE; AKIO KON/BLOOMBERG