Uichiro Niwa, who served as President and Chairman of Itochu Corporation and later as Japan’s Ambassador to China, passed away on December 24, 2025, due to natural causes. His death was reported by Japanese media on January 9, 2026.
His funeral was reportedly held privately with close family members.
Niwa was born in Nagoya in 1939. After graduating from Nagoya University in 1962, he joined Itochu Corporation.
Itochu is one of Japan’s major sogo shosha, or general trading companies—an archetype of the Japanese business model. In recent years, Japan’s trading houses have attracted global attention, notably after becoming investment targets of Warren Buffett. In reality, these firms operate highly diversified businesses, handling a wide range of products including textiles and apparel, energy, and foodstuffs. Niwa spent much of his career engaged in food and grain trading.
In 1998, Niwa was appointed President of Itochu Corporation. At the time, Japan’s trading houses were in what was often described as the “winter era” for sogo shosha. Public criticism was widespread, with some arguing that trading companies merely moved goods from one side to another without creating real value.
Itochu, like many of its peers, was also burdened by non-performing assets generated during the bubble economy years. As president, Niwa took decisive action to clean up these bad debts. To demonstrate his resolve internally, he declined to accept his remuneration for an entire year.
At the same time, he did not neglect investment for growth. During Niwa’s tenure as president, Itochu acquired the convenience store chain FamilyMart.
In 2010, Niwa was appointed Japan’s Ambassador to China. Shortly thereafter, a Chinese fishing vessel collided with Japan Coast Guard patrol boats, leading to heightened tensions between Japan and China. For Niwa, who had been chosen for the post largely because of his extensive experience in doing business with China, the period proved exceptionally challenging. Many Japanese media outlets have suggested that, despite his background, he was unable to find a decisive breakthrough in bilateral relations and must have felt a deep sense of frustration. I share that assessment.
After stepping down as ambassador in 2012, Niwa devoted himself primarily to lecturing and writing.
The Uichiro Niwa I Saw
I interviewed Niwa only once. It was after the publication of his book Shinu hodo Dokusho (Reading to the Point of Exhaustion), published by Gentosha Shinsho, so I believe it was in 2017.
Having led one of Japan’s largest corporations—and having heard stories that, in his younger days, he once sternly confronted a manager from another department for treating new employees unfairly—I began the interview feeling a certain tension.
I quickly realized, however, that this was nothing more than a preconceived notion.
When I remarked that I had been particularly struck by his observation in Shinu hodo Dokusho that Chubei Ito (the founder of Itochu Corporation, 1842–1903; notably, his second son also took the name Chubei Ito as the second generation) had articulated a clear sense of “ethics” well before Max Weber, Niwa’s face lit up. Raising his voice with enthusiasm, he replied:
“That’s exactly right! Chubei-san—san being a Japanese honorific sometimes used even for historical figures as a sign of familiarity—was talking about business ethics in much the same way, more than 30 years before Max Weber wrote The Protestant Ethic and the Spirit of Capitalism.”
I would like to take another opportunity to explain in greater detail the ethics espoused by Chubei Ito and the Omi merchant philosophy that underpinned them. Put very simply, Chubei Ito argued that business should not merely generate profits; it should also contribute to the betterment of society. He formalized this idea as tenpo, a set of rules governing the conduct of the shop—or, in modern terms, the company itself.
Looking back, I do not think Niwa was pleased merely because I sympathized with his views. Rather, he himself believed—much like Chubei Ito—that morality is indispensable in business, not only for oneself but for all businesspeople. I suspect that it was the realization that someone genuinely shared that belief which prompted him to relax his expression.
Niwa was not only a stoic business leader, exemplified by his refusal to accept compensation, but also, in the best sense of the word, an emotional human being. The interview lasted only an hour or two, but that impression has stayed with me ever since.
