Early Life
Information regarding Yasumitsu Shigeta's early life is limited. He was born in Tokyo, Japan, in 1965. Shigeta briefly attended Nihon University but dropped out before completing his degree, driven by a belief that business knowledge extended beyond the confines of textbooks.
Rise to Success
In 1988, at the age of 22, Shigeta founded Hikari Tsushin. The company initially focused on mobile phone distribution and quickly expanded its offerings to include office equipment and insurance services. Hikari Tsushin went public in 1996 and was listed on the Tokyo Stock Exchange in 1999, with Shigeta becoming one of the youngest individuals to lead an IPO in Japan. By 1999, Shigeta's net worth reached $25 billion, a testament to Hikari Tsushin's success during Japan's economic boom.
Key Business Strategies
Shigeta's success can be attributed to several key strategies. He understood the importance of human capital, hiring and training young, motivated individuals. He also recognized market timing, entering the deregulated telecommunications industry early, and emphasized scalable operations to expand rapidly. By the early 1990s, Hikari Tsushin was expanding rapidly, anticipating the surge in cellular communications.
Philanthropy
Yasumitsu Shigeta is associated with the Shigeta Education Foundation, which supports overseas studies (for all ages) and provides scholarships for elementary school students to medical school graduates.
