Hiroshi Mikitani

Hiroshi Mikitani
Name	Hiroshi Mikitani
Birth date	11 March 1965
Birth place	Kobe, Hyōgo Prefecture, Japan
Nationality	Japanese
Alma mater	Hitotsubashi University, Harvard Business School
Occupation	Businessman, entrepreneur
Known for	Founder and CEO of Rakuten
Spouse	Haruko Mikitani

Hiroshi Mikitani is a prominent Japanese entrepreneur and the founder, chairman, and chief executive officer of the global e-commerce and Internet conglomerate Rakuten. A graduate of Hitotsubashi University and Harvard Business School, he left a successful career in investment banking at the Industrial Bank of Japan to launch Rakuten in 1997, pioneering the business-to-consumer online marketplace model in Japan. Under his leadership, Rakuten has expanded into a diversified group with major interests in fintech, digital content, communications, and professional sports, including ownership of the Vissel Kobe football club and the Rakuten Monkeys baseball team. Mikitani is also known for his advocacy of English language proficiency in Japanese business and his significant philanthropic activities through the Kibō no Kagaku foundation.

Early life and education

Hiroshi Mikitani was born in Kobe and is the son of Ryōichi Mikitani, a renowned professor of economics at Kobe University. He attended the prestigious Kobe University-affiliated secondary school before enrolling at Hitotsubashi University, one of Japan's top national universities, where he earned a bachelor's degree in commerce in 1988. Following his graduation, he began his career at the Industrial Bank of Japan (now part of Mizuho Financial Group). In 1991, he moved to the United States to attend Harvard Business School, completing his Master of Business Administration in 1993. His time at Harvard Business School profoundly influenced his management philosophy and entrepreneurial ambitions.

Career

After obtaining his MBA, Mikitani returned to Japan and continued his career in investment banking at the Industrial Bank of Japan. He worked in the corporate finance department, gaining extensive experience in mergers and acquisitions and international finance. However, inspired by the rise of the Internet in the United States, particularly companies like Amazon and eBay, he identified a significant opportunity in Japan's underdeveloped e-commerce sector. In 1997, he made the pivotal decision to leave the security of investment banking to found Rakuten, initially called MDM, Inc., with the vision of creating a vibrant online marketplace for small and medium-sized merchants.

Rakuten

Mikitani founded Rakuten, Inc. in February 1997, launching the Rakuten Ichiba marketplace later that year. The platform revolutionized retail in Japan by providing a turnkey solution for merchants to set up online stores, contrasting with the auction model of rivals like Yahoo! Japan. Under his "Rakuten Shugi" philosophy, which emphasizes empowerment and success for all stakeholders, the company grew rapidly. He led Rakuten through a successful initial public offering on the JASDAQ in 2000. Mikitani has aggressively expanded the company into a global conglomerate through strategic acquisitions, including Buy.com (now Rakuten.com), Kobo, Viber, and Lyft, and by establishing its own mobile network operator, Rakuten Mobile. He also spearheaded the company's sponsorship of FC Barcelona and owns the J.League club Vissel Kobe.

Other ventures and investments

Beyond Rakuten, Mikitani is an active investor and has founded several other ventures. He established the Rakuten Securities brokerage firm and the Rakuten Bank, one of Japan's first online banks. He is a co-founder of the Kibō no Kagaku (Science of Hope) foundation, a philanthropic organization. Mikitani has also invested in and supported numerous startup companies through Rakuten Ventures and his personal investment office. He is a published author, having written books on management and globalization, including "Marketplace 3.0". Furthermore, he serves on the advisory board of the Harvard Business School and is a member of the International Advisory Council of the Bocconi University.

Personal life

Mikitani is married to Haruko Mikitani, an accomplished violinist and businesswoman who serves as the chairperson of the Rakuten Group's Rakuten Fashion division. The couple has two children and resides primarily in Tokyo. An avid golfer, he has participated in professional-amateur tournaments. Mikitani is a strong proponent of Englishnization, a corporate policy he instituted at Rakuten mandating English as the official language for business communication, which he detailed in a Harvard Business Review article. He is also known for his collection of contemporary art.

Awards and recognition

Throughout his career, Mikitani has received numerous accolades for his entrepreneurial impact. He was named one of the "World's 100 Most Influential People" by TIME magazine in 2011. He has been honored with the Harvard Business School Alumni Achievement Award. In 2019, he received the Osaka Global Entrepreneurship Award. The World Economic Forum has recognized him as a Global Leader for Tomorrow. His company, Rakuten, has frequently been listed among the world's most innovative companies by publications like Forbes and Fast Company.

Category:Japanese businesspeople Category:1965 births Category:Living people Category:Harvard Business School alumni Category:People from Kobe