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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The economic policy bannered by Prime Minister Takaichi as “Sanaenomics” is beginning to take shape, with expectations centering on lower gasoline prices and the restart of electricity and gas subsidies even as critics say the program’s substance remains unclear and insufficiently developed; framed as a successor to Abenomics with greater emphasis on growth strategy, the plan raises questions about what will change in people’s daily lives and how the administration intends to run policy behind the scenes.

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The Ministry of Health, Labour and Welfare plans to introduce a new system starting in June 2027 that will, in principle, deny changes or renewals of residence status for foreign residents who fail to pay their national health insurance premiums despite repeated requests for payment.

As of November 4th, the Japan Meteorological Agency announced that a tropical depression near the Caroline Islands is expected to develop into a typhoon within the next 24 hours. The system is separate from Typhoon No. 25 (Haiyan) currently near the Philippines and is projected to move northwestward once it intensifies.

Japan’s record-breaking bear crisis has entered a new and deadly phase, with authorities confirming that a 79-year-old woman missing in Akita Prefecture was found dead in the mountains, believed to be the 13th fatality from bear attacks this year.

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Japan’s space industry is gaining new momentum under Prime Minister Takaichi’s vision of building a “strong economy,” with the sector identified as a key target for strategic investment alongside AI and energy security.

Nintendo has raised its forecast for the upcoming fiscal year ending in March 2026, projecting revenue to exceed 2 trillion yen for the first time.

Farmers across western Japan are facing mounting losses from the growing population of nutria, large semi-aquatic rodents originally brought from South America. Once imported for their fur, the animals have become a major agricultural pest, chewing through crops and spreading rapidly into urban areas.

An outbreak of highly pathogenic avian influenza has been confirmed at a poultry farm in Eniwa City, Hokkaido, prompting authorities to begin culling operations on Sunday afternoon.

Condominium prices show little sign of cooling as even secondhand units in central Tokyo are routinely listed above 100 million yen, with a recent survey indicating the average price of new condominiums launched in the 23 wards in the first half of this fiscal year reached about 133.09 million yen and resale units have exceeded 100 million yen for five consecutive months, underscoring a market in which construction and labor costs have jumped, demand has spilled over into used stock, and buyers are being urged to scrutinize properties more carefully.

The Nikkei Stock Average closed at a record high of 52,411 yen on October 31st, up 1,085 yen from the previous day, marking the first time in history it has ended above the 52,000-yen level. This is the third consecutive day the index has reached a new all-time closing high.

In a quiet neighborhood of Osaka stands a four-story building with around 40 rooms. Yet more than 100 companies are registered there, despite the absence of any visible workers.

Two tea buyers from London arrived in Fukuoka on October 28th to explore the unique appeal of Yame tea, one of Japan’s most celebrated green teas. The visit, organized by Fukuoka Prefecture as part of efforts to expand agricultural exports, aimed to introduce the rich aroma and depth of Yame tea to the United Kingdom, a nation long associated with black tea culture.