Hirotake Yano, Japanese billionaire founder of 100-yen chain Daiso, dies at 80

Japanese billionaire founder of Daiso Industries, known for the discounted dollar-shop concept, passed away from heart failure. His net worth was approximately $1.9 billion. Yano started a small shop in 1977, selling products for 100 yen. Daiso has now grown into a global retail empire with over 4,360 stores in Japan and more than 990 overseas. The chain made over 550 billion yen in sales as of February 2022. Daiso’s success led to the emergence of similar 100-yen retailers in Japan. In 2018, the company introduced the pricier Threeppy store, offering home furnishings. It acquired Japanese budget retailer CouCou in 2020.