In a surprising move, fitness behemoth RIZAP Group has announced an entry into the construction industry. Stating a commitment to introducing novel concepts to the industry, RIZAP aims to make use of its successful management strategies and large customer base to effect change. It remains unclear when exactly the company plans to officially start its construction endeavors.
Business diversification is not uncommon in Japan, where companies often explore new industries to maintain their revenue streams and growth. The construction industry, whilst traditional, is a critical sector in Japan's economy and social architecture. RIZAP stepping into construction is likely to capture people's attention and prompt discussions on how innovative ideas from other industries can reshape traditional sectors.
In the US and EU, business diversification is also prevalent, but usually maintains a connection to a company's original industry. RIZAP's decision to move into the construction industry would be less common, and perhaps viewed with more skepticism.