TOKYO -- Following Mercari's blockbuster stock market debut Tuesday, Japan's lineup of unlisted startups valued above $1 billion has shrunk to basically two, underscoring the domestic tech industry's persistent failure to cultivate unicorns.
Business trends
After Mercari, Japanese unicorns closer to extinction
Reluctance of venture capital to invest stifles startup scene
Mercari co-founder and CEO Shintaro Yamada (center, with red tie) and his employees pose during a ceremony for the company's stock market debut at the Tokyo Stock Exchange on July 19. (Photo by Ken Kobayashi)
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