Yasumitsu Shigeta Net Worth, Age, Family & Biography

About Yasumitsu Shigeta

Hikari Tsushin is a Japanese retailer that sells insurance plans, office automation products, and mobile phones to small and medium-sized businesses. Shigeta is the company’s founder and chairman. In the year ending March 31, 2022, the Tokyo-based company reported a revenue of 578.3 billion yen.

Yasumitsu Shigeta Education

In 1965, Yasumitsu Shigeta was born in Tokyo. He studied at Nihon University in Tokyo but left after three months. He established Hikari Tshushin in 1988 as an organisation that offers telecom gear renting and significant distance telephone administrations.

Yasumitsu Shigeta Career

Following the former state-owned monopoly Nippon Telegraph and Telephone’s deregulation, the business began to flourish. Hikari Tsushin went about as a merchant for new telecom organisations that grew up following the separation and before long set up “Hit Shops,” a chain of diversified cell phone stores, to sell new telephones from the organisation.

In 2000, there were 2,200 Hit Shops across Japan. Shigeta invested in other businesses with the money he received from this lucrative phone retail market and linked the future of his company to the Internet. By the year 2000, he had invested in 70 internet companies in Japan, China, and the United States, including SoftBank.

Shigeta made the record of the most youthful Chief of a public organisation when Hikari Tsushin opened up to the world in 1996 however experienced an inversion during the innovation crash four years after the fact. Hikari Tsushin shares, which hit 241,000 yen in mid-February of 2000, had lost 90% of their worth in under 90 days to exchange at 21,800 yen in April.

Yasumitsu Shigeta Facts

By April 2000, Shigeta had developed business restructuring plans that included selling off Hikari Tsushin’s subsidiaries and investments and closing half of the retail stores. Today, Hikari Tsushin sells cell phones, office mechanisation items and protection plans.

Shigeta’s venture investments failed when the internet bubble burst in the early 2000s. In February 2000, a monthly Japanese magazine reported that the company had overstated its sales.

He has invested in more than 70 publicly traded companies, most of which are based in the United States through Hikari Power. According to a January 2023 filing, Hikari Tsushin and a stake in Berkshire Hathaway that is less than one percent of its value are the most valuable of these investments