Born to a family of doctors, but he entered the business world while young. He tried selling local products but was unsuccessful, and moved to Tokyo in 1871 where he socialized with Shibusawa Eichi through the coal trading business. He acquired the government-affiliated Fukagawa cement plant when it was sold to the private sector and developed it into Asano Cement (later Taiheiyo Cement). He received financial support from Yasuda Zenjiro, a notable businessman from the same town, and his business scope encompassed shipping, mining, shipbuilding, steel and electricity, building the foundation of the Asano zaibatsu.