Source of Wealth:Retail, Furniture
Full Name:Akio Nitori
Occupation:CEO of Nitori Co., Ltd
About Akio Nitori
Akio Nitori is the founder and president of Nitori Co., Ltd. and he has an estimated net worth of $1.04 billion as of March 2013 according to Forbes. He is the 32nd richest person on the list of the Top 50 Billionaires in Japan. Nitori is the owner of the biggest discount home furnishings retailer in Japan with 270 large furniture stores. The company was founded in March 1972 where he serves as its Senior Managing Director. He has been Representative Director since May 1978.
Last November, Nitori announced for 10% to 40% price cuts on hundreds of items in order to boost the sluggish sales and counter the weak yen. To reach new customers, it has also launched a handful of small Deco Home shops.
Since May 2010, Akio Nitori has been the Chief Executive Officer of Nitori Co., Ltd. He has been its President since May, 1978. He has been the External Director of K. K. Marumitsu and P.T. MARUMITSU INDONESIA since February 2003. He has been the External Director of MARUMITSU-VIETNAM EPE since October 2003. He has been the Representative Director of Nitori Public Co., Ltd. since May 2005. He has been the Director of Shanghai Liqiao Industrial Co. Ltd. since March 2006.
Since August 2010, Nitori has been serving as President, Executive President and Representative Director in Nitori Holdings Co., Ltd. He has been the Chairman of the Board in a Shanghai-based subsidiary and the President and Representative Director in two other subsidiaries, Nitori and Home Logistics.
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