CEO behind 5,300% stock gain says secret is raising salaries
Masaru Tange, 46, a software tester, says his business model is to remove inefficiency from Japan’s software industry. He buys small firms and raises their staff’s pay.
“I have a strong urge to rescue these young employees,” Tange, Shift’s founder, president, and CEO, said in an interview. “I want to create a fair working environment through M&A.”
After he completed mechanical engineering, he worked for more than five years in a consulting firm. In 2005 he established Shift. The shift was initially advising companies to improve on profit; in 2009, it entered the software testing business.
His strategy is to charge below the market price for service; this way, he wins customers. At the same time, he raises the amount paid to the engineers. Tange said this is made possible by removing middlemen.
Shares of Shift went up more than 5,300% after it went public in 2014; it is the second-best performance in Tokyo’s benchmark stock index. The company’s market capitalization has risen to about $2.3 billion, increasing Tange’s 33% stake to about $745 million.
Source: yahoo finance
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