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Apr 27, 2013

Interview with UNIQLO Chairman Yanai: “Annual income of one million yen is inevitable” [Asahi]


Look at the parts in a red font.  Although he knows that there are differences in economic power and exchange rate between nations, he has given such a remark.  He must be a convinced criminal.  He gives a comment shown in the second red font probably to fend off criticism.  On the other hand, he gives another comment shown in the third red font:  “Annual income of one million yen is sufficient for rank-and-file employees.”  His logic is contradictory.  I am not so foolish as to expect such money monger to express a logical argument.  However, he had better give more decent comment whether it may be true or false.

Masatoshi Takeshita
April 23, 2013


English translation of a Japanese article: Asahi Shimbun digital – April 23, 2013 –

Interview with UNIQLO Chairman Yanai: “Annual income of one million yen is inevitable”


Mr. Tadashi Yanai, Chairman and President of Fast Retailing Co., Ltd., 
gives an answer at an interview at Minato-ku, Tokyo
Photography: Shigetaka Kodama


Will “global equal pay” system motivate employees or further “impoverish workplaces”?  We asked Mr. Tadashi Yanai, Chairman and President of First Retailing, about the aim to introduce this system and the criticism of the company referred to as “exploiter” where employees are abused.

Will UNIQLO which is going to globally sift for introduction of “global equal pay” system face growth or death?
-        What is the purpose of introducing the “global equal pay” system?

Our basic idea is that employees are paid the same wages proportionate to profits they make in whatever country they work.  I have been thinking about it since we opened stores overseas.  Brilliant employees in emerging countries or developing countries are paid less just for differences in country.  This cannot be accepted by a company trying to globally develop business.”

-        Compared to China, workers in Japan are highly paid.  Will downward pressure be applied on wages of Japanese workers and will employees in less paid countries earn more wages?

Store managers in Europe are far more paid than store managers or temporary workers in Japan.  We have no intention of decreasing pay in Japan.  On the other hand, we cannot increase wages in developing countries at once to the level of those in developing countries.  We are considering specific mechanism of how to level wages and practically equalize them.

-        What do you think about a high personnel turnover rate?

“It is a problem of globalization.  I have told to employees for a decade that in the future, annual income will be divided between 100 million yen and 1 million yen and middle-class people will be decreased.  Unless employees can make increased profits through work, their annual income is decreased to 1 million yen because their wages are put on a par with those of low-paid counterparts in developing countries.   It is unavoidable.

-        You mean that people without added value will leave the company or in some cases get depressed.

“I think so.  It might be tough for Japanese, but people working overseas are working much harder.”

“I’m concerned about migrant workers away from home to take menial jobs.  Unless we can create an added value, which knocks out foreigners in global competition, Japanese have no other choice but go away to work.  Global economy is either “Grow or Die.”  It is an exciting age.  Unless we change, we will die.  I say to our employees that if you don’t change, you should die.”

-------------------- 
Excerpt from a Japanese article: Otaku.COM – April 23, 2013 –

8Name: Nameless@ posted on April 23, 2013 (Tues.)
13:21:23.49 ID:dIdGcR200
It is employees that will die.
The president will never die.

9Name: Nameless@ posted on April 23, 2013 (Tues.)
13:21:39.34 ID:eGfJcrHO
>I say to our employees that if you don’t change, you will die.
I understand you mean “die for the company.”

10Name: Nameless@ posted on April 23, 2013 (Tues.)
13:21:47.10 ID:kWYjCZc10
Employees will be given minimum wage or be ignored?

12Name: Nameless@ posted on April 23, 2013 (Tues.)
13:21:59.34 ID:JjeR/tV0
Income gaps in the society must increasingly be widened.

13Name: Nameless@ posted on April 23, 2013 (Tues.)
13:22:19.39 ID:/Qgi9S2J0
It’s a universal exploiter.

14Name: Nameless@ posted on April 23, 2013 (Tues.)
13:22:28.51 M4+3tJg30
Why don’t you crush such an awful company quickly?

17Name: Nameless@ posted on April 23, 2013 (Tues.)
13:22:43.02 ID:GbJi96Xn0

I feel like this man will be attacked to death by his employees before their annual income falls down to one million yen.

18Name: Nameless@ posted on April 23, 2013 (Tues.)
13:22:57.61 ID:SF/QM4m00

Thanks to success in Abenomics, annual income has reached one million yen.  Good for you!

19Name: Nameless@ posted on April 23, 2013 (Tues.)
13:23:06.73 ID:U1dHWNSX0

As expected, Myanmar standard is applied to employees and American standard to board members.

24Name: Nameless@ posted on April 23, 2013 (Tues.)
13:23:31.88 ID:4n8orbZv0

Still, many people buy UNIQLO goods.  I’ll never buy them.

28Name: Nameless@ posted on April 23, 2013 (Tues.)
13:24:27.07 ID:BjMLvuj0

Neither people making one million yen per year nor those making 100 million yen will go to UNIQLO stores.  Don’t they know that without middle-class people, they can’t get sales?

30Name: Nameless@ posted on April 23, 2013 (Tues.)
13:24:30.03 ID:5itVW7BK0

I hear this guy hardly pays taxes in Japan.

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