Early Life
Hiroshi Mikitani was born on March 11, 1965, in Kobe, Hyōgo Prefecture, Japan. His father was a professor at Kobe University, and his mother worked for a trading company. Mikitani's family had a strong academic background. Mikitani's early life included time in the United States, which shaped his global mindset.
Rise to Success
After graduating from Hitotsubashi University with a degree in commerce in 1988, Mikitani worked at the Industrial Bank of Japan. He pursued an MBA at Harvard Business School, graduating in 1993. Mikitani left the Industrial Bank of Japan in 1996 to start his own consulting firm, Crimson Group. In 1997, he founded MDM, Inc., which was later renamed Rakuten, Inc.. The online shopping marketplace Rakuten Ichiba was launched on May 1, 1997. Rakuten quickly became Japan's largest e-commerce site. The company went public in 2000.
Key Business Strategies
Rakuten's business model focused on empowering merchants and offering a wide range of services. Key strategies included expanding internationally through acquisitions, such as Buy.com and PriceMinister, and diversifying into Fintech and mobile services, including Rakuten Pay and Rakuten Mobile. Mikitani also implemented a strategy of making English the official language of Rakuten.
Philanthropy
Mikitani is involved in philanthropy and has expressed interest in donating much of his fortune.