<figure id="attachment_410925" class="wp-caption alignnone" style="width: 800px;" aria-describedby="caption-attachment-410925"><a href="#" data-ident_hash="7db48e51"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2025/01/e446774a44d67f834b7deb1912848e6a-1.jpg" alt=""></a><figcaption id="caption-attachment-410925" class="wp-caption-text">Takuro Morinaga&#8217;s first appearance in FRIDAY (right) and in September last year (left).</figcaption></figure>
<h2>Mr. Morinaga, a self-proclaimed otaku, beloved under the nickname Moritaku</h2>
On January 28, economic analyst Takuro Morinaga passed away at the age of 67. In December 2011, he announced that he had been diagnosed with stage 4 pancreatic cancer. He was later diagnosed with cancer of unknown primary.
 
&#8220;After graduating from the University of Tokyo’s Faculty of Economics, Mr. Morinaga joined the Japan Monopoly Corporation (now Japan Tobacco Inc., JT). He later served as a researcher at Mitsui Information Development and Sanwa Research Institute, where he gradually made a name for himself. In April 1995, he gained attention as a guest commentator on Beat Takeshi’s TV Tackle (TV Asahi), and in 2000, he became a commentator on News Station (TV Asahi).
He was the first in Japan to use the title of economic analyst. While the show’s MC, Hiroshi Kume (80), was known for his sharp-tongued style, Mr. Morinaga’s appeal lay in his calm yet incisive analysis, making their exchanges highly popular,&#8221; said a news program director.
 In his personal life, Morinaga is known as a collector of miniature cars and Rika-chan dolls, and is a self-confessed otaku. He was nicknamed &#8220;Moritaku&#8221; and loved by many people.
Even after being told that he had little time left to live, Morinaga continued to write and appear in the media while fighting his illness, and until the day before he passed away, he continued to express his thoughts in his own honest words. He was interviewed by &#8220;FRIDAY&#8221; four times. His first appearance in the October 21, 2016 issue was as a collector. The following is a partial transcript of the interview.
<div data-friday-nextpage-lead="Takuro Morinaga as a collector"></div>
<h2>&#8220;I am a maniac.&#8221;</h2>
In Tokorozawa City, Saitama Prefecture, there is the &#8220;B Treasure Museum,&#8221; where over 10,000 items from Morinaga&#8217;s Glico toy collection are displayed.
&#8220;The Ezaki Memorial Hall, built by Glico&#8217;s headquarters, displays about 3,000 toy items. I have more than three times that amount. I have a good relationship with Glico, but recently, someone from their public relations team told me, &#8216;Could you please stop saying it&#8217;s three times as much? We still have many items that haven&#8217;t been publicly displayed yet.&#8217; I wonder if that&#8217;s really true (laughs).&#8221;
While he sometimes received items through connections, his primary acquisition method was online auctions. He checked Yahoo Auctions daily.
&#8220;If you get caught up in bidding wars on online auctions, the price keeps going up. A single item can skyrocket to 200,000 yen. It never ends, so I try to stop bidding at under 100,000 yen. The highest price I’ve ever paid was 80,000 yen—for a paper sidecar and a tin Mazda three-wheeled truck. In total, I&#8217;ve spent about 1 million yen on this collection.&#8221;
According to him, Glico toys reflect the times.
&#8220;During wartime, they were mostly fighter planes and tanks. Due to material shortages, they were made of roughly fired clay. After the war, there were many toys featuring flowers and international flags, symbolizing peace. The 1960s featured home appliances like TVs and refrigerators, reflecting the rapid economic growth. In the 1980s, boys&#8217; toys were mostly space-themed, while girls&#8217; toys had a fairytale-like charm. Recently, due to the eco-friendly trend, wooden toy cars have become popular.&#8221;
He opened the B Treasure Museum in 2014.
&#8220;Building a museum was a long-held dream, but it&#8217;s tough. The annual maintenance cost is 10 million yen, while the revenue is only about 1 million yen, leaving a 9 million yen deficit each year. It&#8217;s like I&#8217;m working just to cover this loss. My wife sighs, &#8216;If you hadn&#8217;t done something so foolish, we could have had a comfortable retirement.&#8221;
There are 25,000 different types of Glico toys. &#8220;My dream is to collect them all,&#8221; he once said.
<div data-friday-nextpage-lead="What is the &quot;last warning&quot; from the &quot;worried&quot; commentator?"></div>
<h2>The Reiwa Depression will inevitably come under Prime Minister Shigeru Ishiba</h2>
And his final appearance was in October last year (October 18–25 combined issue). The location was the Micro Farm near his home in Tokorozawa City, Saitama Prefecture.
On a morning in late September 2024, at 7:30 AM, as he watched the steady growth of vegetables nearing their final harvest—long eggplants, green peppers, and okra—Morinaga left his final warning to the Japanese people. Here is part of that message:
&#8220;I don&#8217;t believe in the existence of the afterlife. This life is everything. That&#8217;s why I was born with nothing and will leave with nothing. For me, realizing that is my way of preparing for the end.&#8221;
Morinaga began speaking thoughtfully.
&#8220;As part of my advocacy to break free from capitalism’s grip by moving to rural or suburban areas—a concept I call &#8216;Tokainaka Living&#8217;—I started this as a social experiment during the COVID era. To counter capitalism, I rented a 20-tsubo (about 66 square meters) farm, aiming for self-sufficiency in food. The biggest benefit is being able to live without being bound by money.&#8221;
The words Investment Addiction printed on his T-shirt were the title of one of his books. It wasn&#8217;t a declaration of his own dependency but rather a message against reckless investing—arguing that investment, at its core, is a form of gambling with significant risks when done without a proper plan.
Although he had already sold most of his stock holdings as part of his estate planning, there was one company he continued to hold shares in: Takara Tomy.
&#8220;I&#8217;m a die-hard Tomica collector, and I want to keep receiving the original Tomica and Licca-chan dolls that come as shareholder benefits (laughs).&#8221;
Morinaga spent his life relentlessly pursuing what he truly loved. But at the core of his beliefs, he also had a deep concern for his country—an aspect of him that could be described as patriotic.
On October 1, 2024, during the Prime Minister nomination vote in the National Diet, the newly elected Liberal Democratic Party president, Shigeru Ishiba (67), was chosen as the next Prime Minister.
Morinaga foresaw a dark future ahead.
<div data-friday-nextpage-lead="Takuro Morimoto declares that Japanese stocks are &quot;a sell&quot; option."></div>
<h2>If the Prime Minister is a good person, it becomes difficult</h2>
&#8220;I was watching the leadership election with an 85% certainty that Sanae Takaichi (63) would be chosen, but there must have been people who absolutely couldn’t accept a Takaichi administration. With Ishiba becoming Prime Minister, the arrival of the Reiwa Depression is inevitable. Among the nine candidates in the leadership race, Ishiba was the most accepting of tax increases. Since he is not an expert in economics, he has been completely brainwashed by the Ministry of Finance. Major tax hikes and cuts to social security are certain.
On the evening of Friday, September 27, 2024, right after the new party leader was chosen, I predicted a stock market crash on Monday, and that’s exactly what happened. Moving forward, the consumption tax will head toward 15%, Japan’s stock market bubble will burst, and the Nikkei average will drop into the 10,000s within the year, eventually falling to the 3,000s. The variable interest rate on housing loans will undoubtedly rise by at least 0.15%, which means even citizens who don’t invest in stocks will be significantly affected.”
Despite this grim forecast, I do feel a certain sense of kinship with Prime Minister Ishiba, as we are the same age.
“Ishiba, like me, is an otaku. He has no friends and finds the greatest happiness in beautifully crafting models of warships, fighter jets, and trains. He used to frequent the same model shops in Akihabara that I did, so I completely understand his true otaku mindset. Otaku are never bad people. Ishiba is a good person who listens to those around him. However, that very quality makes it difficult for him to demonstrate strong leadership as Prime Minister.”
Morinaga, who gained popularity as an economist for the common people, left his final warning to the Japanese public:
&#8220;Selling Japanese stocks is the only choice. I want to reduce the number of people who find themselves destitute in old age, even if just by one. With little time left in my life, I see this as my final mission.&#8221;
Though he said he would leave nothing behind, he never stopped collecting until the very end. &#8220;If you hadn’t done such foolish things, we would have had a comfortable retirement.&#8221; his wife sighed. But without a doubt, he lived a life richer than anyone else. May he rest in peace.
<div data-friday-nextpage-lead="Many vivid expressions of Mr. Morinaga's life."></div>
<figure id="attachment_410928" class="wp-caption alignnone" style="width: 2182px;" aria-describedby="caption-attachment-410928"><a href="#" data-ident_hash="ee38ed19"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2025/01/a761e1275e007d4b9e657588091759fb.png" alt=""></a><figcaption id="caption-attachment-410928" class="wp-caption-text">Morinaga happily enjoying himself at his self-operated B Treasure Museum (October 21, 2016 issue).</figcaption></figure>
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<figure id="attachment_395245" class="wp-caption alignnone" style="width: 1280px;" aria-describedby="caption-attachment-395245"><a href="#" data-ident_hash="c6ecbfb0"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2024/10/3cbfd4340cd8cb41596d63e9a8775eea.jpg" alt=""></a><figcaption id="caption-attachment-395245" class="wp-caption-text">With freshly harvested green peppers and eggplants in hand, he beams with joy. Renting a farm, he realized firsthand that farming requires intelligence (October 18–25, 2024 combined issue).</figcaption></figure>
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<figure id="attachment_395247" class="wp-caption alignnone" style="width: 1280px;" aria-describedby="caption-attachment-395247"><a href="#" data-ident_hash="7a9eb51b"><img src="https://res.cloudinary.com/fridaydigital/image/private/t_article_image/wpmedia/2024/10/2a930196e5e55d401ee338277c225bb7.jpg" alt=""></a><figcaption id="caption-attachment-395247" class="wp-caption-text">Morinaga, who never stopped smiling (October 18–25, 2024 combined issue).</figcaption></figure>

 Hiroyuki Komatsu

 On January 28, economic analyst Takuro Morinaga passed away at the age of 67. He was interviewed four times in FRIDAY. We would like to reintroduce him as a "collector" and a "nationalist" who cared about the country.

Tribute to Takuro Morinaga: A Life of Passion to the Very End

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