Hello Kitty provider gets new boss after 60 years
14 June, 2020
The founder of the firm behind Hi there Kitty is stepping down aged 92 and handing the reins to his 31-year-old grandson -- the first change in leadership in the business's six-decade history.
Tokyo-founded Sanrio, which created the ubiquitous pink-bowed figure in 1974, announced about Fri that Shintaro Tsuji would retire as president and pass the torch to Tomokuni, who had been senior managing director.
Coincidentally, the new boss shares his birthday with Hello Kitty -- November 1 -- but is 14 years younger. He'll end up being the youngest CEO of a company detailed on Tokyo's Topix index.
Shintaro's son Kunihiko died of heart and soul failure in 2013.
Based on the firm's official history, Shintaro Tsuji made the forerunner to Sanrio, called Yamanashi Silk Centre Co Ltd, in 1960 in Tokyo.
It changed its brand in 1973 to Sanrio and created its first character goods a year later, using Hi there Kitty and the duo Jimmy and Patty.
The first Hello Kitty item, a coin purse, was merchandised in 1975 and the character has since adorned from bullet trains to handbags. Hello Kitty also has its popular theme park.
To the surprise of fans, Sanrio explained in 2014 the feline-inspired persona had not been actually a cat but a "happy litttle lady", sparking uproar from Internet surfers who spluttered: "But she's got whiskers!"
The change at the very top comes at a difficult time for Sanrio, whose organization has been declining for quite some time and has been hit hard by the coronavirus pandemic.
According to its benefits also published on Fri, annual net profits plunged by 95 percent in the 2019/2020 fiscal year. Product sales had been down 6.5 percent at 55.2 billion yen or $514 million.
Source: japantoday.com