After Losing a Fortune in a Stock Plunge, Decided Not to Waste
Using Japanese Shareholder Benefits... Free Meals and Leisure Activities
A Japanese septuagenarian millionaire who has lived for over 10 years solely on shareholder benefits and free coupons is making headlines. Shareholder benefits refer to a system where listed companies provide shareholders with perks such as their products or services in addition to dividends. Japanese companies are well known for having such shareholder benefit programs.
On the 2nd (local time), Hong Kong's South China Morning Post (SCMP) reported the story of former professional shogi player Kiritani Hiroto (75), known as the "God of Freebies." He is an asset holder worth 600 million yen (approximately 560 million KRW) with shares in over 1,000 listed companies. Kiritani began investing in stocks while teaching shogi at a securities firm, and his keen observation and quick learning skills helped him amass significant wealth. After retiring, he gained fame as a successful stock investor and appeared on many broadcasts, becoming well known to the public.
Mr. Kiritani Hiroto, who became a hot topic for living only on free coupons despite having assets worth 5.6 billion won [Image source=SCMP capture]
However, before the 2008 global financial crisis, Kiritani lost 200 million yen (about 186.652 million KRW) after buying stocks worth several hundred million yen that plummeted in value. Realizing that managing cash was even more important than investing, he resolved never to waste money again and to enjoy life through shareholder benefits.
Currently, Kiritani lives in a spacious home but leads a lifestyle far from luxurious. He wears modest clothing rather than extravagant outfits and avoids expensive brand-name products. His main mode of transportation is a bicycle purchased with shareholder benefit coupons. He visits restaurants to enjoy free meals using shareholder coupons and uses services such as movies, saunas, and gyms. Notably, he receives over 300 movie tickets annually and watches about 140 films each year. He even uses karaoke, bungee jumping, and roller coasters.
Kiritani stated, "It is shameful to let coupons provided by listed companies expire," adding, "I make the most of all the benefits." He further said, "Maximizing the use of all the coupons I receive has become a great joy in my old age." Recently, he published a book on frugal living. The book advises, "Young generations can also benefit in asset building by combining long-term investment with shareholder benefits."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
