HIROSHI MIKITANI

Hiroshi Mikitani is the founder of Rakuten, Inc. Mr. Mikitani has served as Chief Executive Officer and Chairman of the board since the inception in 1997. He is a Founder of Internet shopping mall Rakuten, Mikitani has become Japan’s leading Internet entrepreneur after high-profile rival Takafumi Horie disappeared from public view following his arrest for allegedly covering up losses at Livedoor.

The two online businessmen had clashed over the right to buy Japan’s first new baseball franchise in decades. Late to the contest, Mikitani won, naming his team the Rakuten Eagles.

Despite setbacks for Mikitani, his business keeps expanding with company revenue almost tripling to $1 billion in 2005 because of strong e-commerce sales.

In June 1999 MDM, Inc. changed name to Rakuten, Inc. By June 2004 it was the second ranking site in Japan, as measured by unique audience, with only Yahoo! having more monthly visits.

Rakuten’s 2005 revenues exceeded US$1.1 billion with operating profits of approximately $320M. But Mikitani, worth $3.2 billion and as of May the eighth-richest man in Japan, can’t bring himself to quit the company he started 11 years ago, which last year netted $350 million on the $2 billion cut Rakuten takes on those transactions.