Susumu Ishii
Susumu Ishii | |
|---|---|
| Born | 1924 Yokosuka, Japan |
| Died | 1991-09-03 Keio University Hospital, Tokyo, Japan |
| Occupation(s) | Yakuza leader, businessman |
| Years active | 1958–1990 |
| Known for | Second kaicho of Inagawa-kai, fifth socho of Yokosuka-ikka, extensive real estate and financial dealings |
Susumu Ishii served as the second kaicho (head) of the Inagawa-kai yakuza organization in Japan and was the fifth socho of the Yokosuka-ikka faction.
Born in 1924 in Yokosuka, Ishii came from a family that operated a modest noodle restaurant in Kamakura. During World War II, he was part of a kaiten squad within the Imperial Japanese Navy, although he did not engage in any suicide missions. After the conflict ended, he joined the Inagawa-kai in 1958 and gradually climbed the ranks to become second-in-command. Between 1978 and 1984, he served a prison sentence for involvement in a gambling fraud. Upon his release, Ishii promoted a shift away from violent yakuza conduct toward integration with mainstream society by the time one reached their forties.
Ishii owned the prestigious Iwama Country Club, featuring 36 holes of golf, where he sold memberships priced over $200,000 each to Japan’s elite clientele, generating substantial income.
During Japan's Japanese asset price bubble and following his incarceration, Ishii built a fortune exceeding $4 billion by exploiting loans, banking arrangements, and real estate ventures. His investments extended internationally, including developments in Korea and the United States. In 1989, his organization notably engaged Prescott Bush Jr. as a consultant; however, Bush denied awareness of any criminal affiliations.
According to the Yomiuri Shimbun, Ishii was involved in nearly every significant financial deal throughout the 1980s and 1990s. His $700 million portfolio of overseas investments encompassed hotels located in Monaco, Hong Kong, and the United States, broadening his global business influence.
He earned epithets such as "World's Richest Gangster" and "The Gangster With the Golden Touch" due to his immense wealth and sharp business strategies.
Stock market manipulations
During Ishii's tenure, leading Japanese investment companies Nomura Securities and Nikko Securities extended credit to the Inagawa-kai; notably, Nomura's sales director personally oversaw Ishii's financial dealings. Utilizing $200 million in loans, Ishii influenced stock market activities by acquiring 27 million shares of Tokyu Corporation, resulting in profits approaching $2 billion. Additionally, he obtained $2.5 billion through credit and loans from Sagawa Kyubin. The exposure of these ties led to the resignations of Nikko Securities’ president and Nomura’s chairman.
Later life
After the collapse of Japan's economic bubble, Ishii experienced a swift decline in both his fortune and health. He stepped down as kumicho in September 1990, with Yuko Inagawa, son of founder Kakuji Inagawa, succeeding him. Ishii passed away on September 3, 1991, at age 67 at Keio University Hospital. His funeral at Ikegami Honmon-ji temple in Ōta, Tokyo drew over 6,000 attendees.