The billionaire founder of the Japanese chain of stores “Everything at 100” Daiso has died

He founder of the popular Japanese chain of “everything for 100” stores Daiso, Billionaire Hirotake Yano has died at the age of 80, the company said. The businessman died on February 12 due to heart failure, as it now turns out.

Yano opened his first Daiso in 1991 in Takamatsu, in Kagawa Prefecture (southwest), and since then the chain has expanded throughout the Japanese archipelago and to several countries overseas, offering a successful model of products priced at 100 yen (€0.62 / US$0.66). current exchange rate).

Daiso currently operates 4,360 stores in Japan and 990 in other American countries such as the United States, Brazil or Mexico; and from Asia, Oceania and the Middle East, according to data provided by the company late last year. Its founder began his business career with a store called Yano Shoten and a similar business model in 1972, and opened his first Daiso stores outside Japan in 2001 in Taiwan and South Korea.

Considered to be the pioneer of the “all 100” chain of establishments in the Japanese archipelago. The business idea behind Daiso gave rise to many other similar chains in Japan. Although initially all Daiso products were sold for 100 yen, these stores, which sell everything from clothing to food to electronic accessories, have grown to include higher price ranges such as 200, 300 or 500 yen.

The private equity-controlled company had turnover of about 550 billion yen for the year ending 2022. (about 3.600 million dollars/3.342 million euros).

Local media estimated Yano was worth around $1.9 billion (€1.763 million) and he left his post as company president in 2018 to be succeeded by his son Seiji Yano.