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SoftBank’s Masayoshi Son addressed a four-decade-old friend in April after she was presented with a list of 30 candidates to become the new female board member of the Japanese technology group.
Keiko Erikawa, president of Koei Tecmo Holdings, was exactly the kind of businesswoman the founding billionaire was looking for. She brings a management style that differed from Son’s high-risk approach, which SoftBank has taken a historic loss last year a the highest profit in history for a Japanese company.
The $ 7.5 billion gaming company Erikawa co-founded with her husband, known for hits such as Nobunaga’s ambition i Warriors of the dynasty, has never resigned an employee or suffered any loss in his 43 years. It emerged from the Covid-19 pandemic with a capital adequacy ratio of 86%, underscoring the strength of its balance sheet.
“At first, I told her that our company was also looking for female management and that she didn’t have time,” Erikawa told the Financial Times in an interview, recalling a conversation she had with Son in the spring. “But I thought it might be fun and accepted, considering I’ve known him for a long time and we’ve dealt with a number of business issues from time to time, so I know his personality very well.”
Erikawa is expected to be appointed non-executive director of SoftBank this month pending shareholder approval. His nomination comes after Yuko Kawamoto, a prominent corporate governance expert who was the group’s first and only director, ceased last month after openly challenging Son on internal control issues.
Erikawa, a 72-year-old game designer, is also known for managing Koei Tecmo’s $ 1 billion in surplus funds and other assets and has invested in stocks since the age of 18.
“I have always continued to invest in a difficult environment, including investments in emerging companies. So I hope to be a little helpful as a member of SoftBank’s board in this regard as well, ”he said.
Erikawa has known Son since he founded SoftBank in 1981 as a PC software distributor and saw the company evolve into the third largest mobile operator in Japan and the investment group behind the $ 100,000 million. supported by the Saudis. Vision Fund. “Given his personality, he will not feel satisfied until [SoftBank becomes] the world number one as an investment firm, ”he said.
Although Kawamoto had criticized SoftBank’s governance structure, Erikawa said he was not too concerned about volatility in the group’s financial performance.
“Mr. Son was very depressed after a big loss last year, so I said,‘ What are you talking about? Investing always carries a risk, “Erikawa noted, referring to SoftBank’s sour bets, such as the WeWork property group.” Humans improve through challenges and failures, so I hope it can deliver good results in the future. “.
One of Koei Tecmo’s challenges has been cultivating female talent.
“Including myself, many Japanese women do not want to be part of the management. Even if they have the same responsibilities, psychologically it is easier for them to be in the number two position than to be in front, ”said Erikawa. “There are so many talented women in Japan, so I feel the need to change that structure.”
Hirokazu Hamamura, a gaming expert and digital content consultant at Kadokawa Publishing, said Erikawa could become a voice on the SoftBank board that could counter Son’s influence.
“Mrs. Erikawa is a role model for other women managers and one of the pioneers of the gaming industry. He will not hesitate to tell anyone his opinion either, but he can do it without offending people by his personality “, said Hamamura.
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