U-NEXT President Yasuhide Uno’s 50 Billion Yen Deficit—A Struggling Leader or a Visionary in Crisis?

In the domestic video streaming service market, “U-NEXT” holds the second-largest share, positioning itself just behind the global giant Netflix. Priced at 2,189 yen per month (including tax), its business is thriving, offering not only movies, dramas, sports, music, and stage performances but also magazines and manga. The number of subscribers is approaching 5 million, nearly doubling over the past three years.

“In fact, we started our video streaming service business even before Netflix. The competition is fierce, but we must continue to create unique value that only we can offer.”

With a wry smile, this is revealed by Yasuhide Uno (61), the President and CEO of U-NEXT HOLDINGS. At just 25 years old, he co-founded the staffing company Intelligence (now Persol Career), and at 34, he took over Osaka Yusen Broadcasting Corporation (formerly USEN) from his father, leading both companies to successful IPOs and continuously expanding businesses. In the early 2000s, he was known as one of the key figures driving the venture boom.

As a business leader, Uno gained fame and became known as a mentor figure among the so-called “Hills Tribe” alongside Takafumi Horie (52) and Susumu Fujita (51). However, the 2008 Lehman Brothers collapse struck.

“At the time, venture companies were expanding their market capitalization and using it to raise funds and rapidly scale their businesses. We were also venturing into new areas, but the Lehman shock caused our performance to deteriorate, resulting in consecutive fiscal years with losses exceeding 50 billion yen. We had no choice but to sell off key businesses one after another, and I was effectively forced to step down as president of the former USEN.”

Thus, in 2010, Uno suddenly disappeared from the public stage. Once celebrated as a star entrepreneur, he was now branded as a failed businessman.

“The media published harsh articles about me daily, and my family would see them as well. It was painful and embarrassing. At times, I even thought that it might be better to end it all… But in the end, my desire to prove that the business I believed in could grow, benefit society, and validate everything I had done won out.”

Among the businesses that financial institutions had ordered him to sell at the time was the video streaming service that later became the foundation of U-NEXT.

The March 14-21 double issue of “FRIDAY,” released on February 28, along with the paid version “FRIDAY GOLD,” features Uno speaking candidly about his struggles in the wake of the Lehman shock. He also reveals the untold stories behind getting U-NEXT back on track and the core beliefs he values as a business leader (honorifics omitted in the text).

For more details and multiple photos, click here↓.

From the March 14-21, 2025 issue of “FRIDAY”