News On Japan

Why Japan is home to the world’s oldest businesses

There are so many 100-plus-year-old companies in Japan that there’s a word for them in Japanese: shinise. What is it about doing business in Japan that cultivates such an enduring legacy?

Nov 24 (theceomagazine.com) - Shitennō-ji temple is one of Osaka’s most important Buddhist temples. Built in the sixth century during the rule of Prince Shotoku, it has stood firm as the high-rises of the modern-day city have towered above it.

Of course, the structure hasn’t survived more than a millennium without some tender loving care, with its most recent reconstruction taking place in 1963.

Visitors to the temple praise its serenity and space amid the hustle and bustle of Japan’s third-largest city. One nugget of information visitors may not take away from their visit, however, is that the firm that constructed the temple is also still in operation.

Founded in 578 with the Shitennō-ji temple as its first project, Kongō Gumi is widely considered the oldest company in the world, operational for a staggering 1445 years and counting.

What is equally as astonishing is that Kongō Gumi is not alone. The oldest hotel in the world, according to the Guinness Book of Records, is also in Japan. Nishiyama Onsen Keiunkan is an onsen (hot spring) hotel that opened in the Yamanashi Prefecture outside Tokyo in 705.

The oldest tea house in the world, Tsuen Tea, poured its first brew in Tokyo in 1160, and the oldest listed business on the Japanese stock exchange is Matsui Kensetsu, a construction firm that dates from 1586. ...continue reading

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A demonstration demanding the abolition of the consumption tax and the restructuring of the Finance Ministry took place in front of the ministry’s headquarters in Tokyo’s Kasumigaseki district on February 24th. The scene at around 5 p.m. was markedly different from the usual atmosphere.

A strong cold air mass has swept into southern Kyushu due to a winter pressure system, bringing snowfall to Sakurajima in Kagoshima, even as March approaches.

As March 3rd's Hinamatsuri approaches, 'Ebitokanino (Shrimp & Crab) Aquarium' in Susami is displaying a collection of unique marine creatures representing the arrival of spring. Among them is the vibrant pink goldie (Pseudanthias squamipinnis), resembling delicate peach blossoms, and the hishigani crab, whose folded claws resemble the layered colors of traditional Hishimochi rice cakes.

Socks from a leading manufacturer in Nara Prefecture, Japan’s top producer, have been chosen for the official uniforms of staff at the Osaka-Kansai Expo. On February 21st, 10,000 pairs were shipped to Osaka.

As the end of the fiscal year approaches, demand for moving services is surging, driving costs to unprecedented levels. Estimates from moving companies suggest that fees, currently around 200,000 yen, could double to 400,000 yen by late March.

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US prominent investor Warren Buffett has written that he is looking to increase his company's holdings in Japan's five largest trading houses in his annual letter to shareholders. (NHK)

Vision Megane, widely known for its catchy commercial jingles, faced a major crisis in 2013 when it applied for civil rehabilitation, effectively declaring bankruptcy. Surprisingly, the man who led the company’s revival was none other than a CEO chosen through an amidakuji (lottery-style drawing).

Socks from a leading manufacturer in Nara Prefecture, Japan’s top producer, have been chosen for the official uniforms of staff at the Osaka-Kansai Expo. On February 21st, 10,000 pairs were shipped to Osaka.

Japan's nationwide Consumer Price Index (CPI) rose 3.2% in January compared to the previous year, marking the highest increase in a year and seven months, according to the Ministry of Internal Affairs and Communications.

The wholesale price of rice in Japan continues to climb, with the Ministry of Agriculture, Forestry, and Fisheries announcing on February 19th that the average price for rice traded in January under the 2024 harvest reached 25,927 yen per 60 kilograms of brown rice.

SBI Shinsei Bank will double the interest rate on savings accounts for individuals aged 60 and older starting in April.

More than half of employees in Japan say they do not want to become managers, according to a recent survey on management career aspirations conducted by a human resources company. Only 20.5% of respondents expressed a desire for a managerial role, while the majority said they would rather avoid it.

Osaka is witnessing an influx of foreign luxury hotels, fueled by a surge in inbound tourism. In 2024, a record 14.63 million international visitors arrived in the city, intensifying competition among global hotel brands.