Niigata Prefecture, center of Japanese culinary culture, hosts its first Gastronomy Awards
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CEO who failed in Silicon Valley spurs 4 500% stock gain at home in Japan
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Jul 6, 2021
Takanori Nakamura pulled out of Silicon Valley in 2015 after his mobile marketing software flopped and decided to focus everything on his home country, Japan.
Now those efforts are paying off. His company, Rakus Co., has surged more than 4,500% since going public in Tokyo that year for one of the best performances on the country’s benchmark stock index.
Nakamura, who owns 34% of the cloud-based expense software firm and serves as its president and chief executive officer, has seen his net worth jump to about $1.8 billion (¥199 billion), according to the Bloomberg Billionaires Index.
Rakus is the latest Japanese startup to create vast riches for its founder as its shares surged after going public. It’s also another example of how some of the country’s hottest stocks apply technologies like artificial intelligence or cloud computing but in business areas that could be described as mundane.