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

News On Japan
POPULAR NEWS

JR West Japan has announced the development of a special umbrella designed to protect passengers and crew from attackers wielding knives or other weapons, with plans to equip train cars with these umbrellas.

The Japanese embassy in Turkey says six Japanese tourists were hospitalized with injuries on Thursday after their bus was involved in an accident in western Turkey. (NHK)

Japan’s recent approval and rollout of a new "Replica Vaccine" for COVID-19 has triggered widespread public concern, with some businesses imposing entry bans on vaccinated individuals. The vaccine, which began regular administration in October, has faced backlash due to its ability to "self-replicate" in the body, raising anxiety about its safety.

Japan's Nuclear Regulation Authority has granted approval for Kansai Electric Power Company's Takahama Reactor No. 1 to operate for over 50 years, marking a first in Japan, reaching its 50th anniversary next month.

Japan is grappling with a severe sleep deprivation crisis, with economic losses estimated at 18 trillion yen annually due to reduced productivity, according to a study by the RAND Corporation.

MEDIA CHANNELS
         

MORE Business NEWS

Ajinomoto, the century-old food giant, continues to dominate the market, with annual sales exceeding one trillion yen. Known for its wide range of products, including frozen foods, seasonings, cosmetics, and medical-use amino acids, the company has recently made headlines for its flagship frozen gyoza, which has been a top seller in Japan for two decades.

ANA has revealed its largest automated cargo warehouse at Narita International Airport, set to commence operations next week.

Japan is grappling with a severe sleep deprivation crisis, with economic losses estimated at 18 trillion yen annually due to reduced productivity, according to a study by the RAND Corporation.

BookOff Group Holdings has announced the findings of an investigation into fraudulent activities, including fictitious buybacks, uncovered at stores nationwide. The total loss amounts to Y68 million.

The 90th Paris Motor Show has opened, showcasing a significant presence from Chinese EV manufacturers as the European Union imposes additional tariffs. This year, no major Japanese manufacturers participated.

A ranking of business terms that are often misunderstood by younger employees has sparked discussion. Are you using phrases that might not be understood by the younger generation without even realizing it?

Japan Post has revealed that approximately 1.55 million customers' data from their postal savings accounts were improperly used for sales of insurance products by Japan Post Insurance without obtaining consent.

U-NEXT Holdings announced its consolidated financial results for the year ending August 2024 on October 10th, reporting a sales increase of approximately 18% to 326.7 billion yen, while net profit rose by about 40% to 15.3 billion yen, marking strong gains in both revenue and profit.