Japanese billionaire Tadashi Yanai says the image of America is crumbling

“The image of America itself is crumbling,” Tadashi Yanai, CEO of Uniqlo Fast Retailing, he told CNN Business in an exclusive interview. “I really hope it has a positive impact in the long run, just like the Civil Rights Movement.”
Yanai, 71, is Japan’s biggest billionaire and one of the richest people in the world. It is estimated to be the largest shareholder of fast retail, Asia’s largest clothing retailer $ 31.3 billion, according to Bloomberg.

In recent weeks, the company’s operations in U.S. cities such as New York, Philadelphia, San Francisco and Los Angeles have all been hit hard as protests have erupted across the country over George Floyd’s death, Yanai said.

“It shows how much the American spirit has been destroyed. The political situation is unbearable. It is not working,” he added. “There should be a stronger desire to take positive civic action when there are social problems. It is wrong to constantly ignore them like some do now.”

Like many other companies, Fast Retailing also takes advantage of the current crisis as well as the crisis coronavirus pandemic, as a “catalyst for change,” the CEO said.

“What is important? What is irrelevant? Why are we doing business? We are being asked these fundamental questions,” he remarked. “As a company, we wonder why we exist.”

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