Japan and its Centennial Companies

Japan has the largest number of century-old corporations in the world with at least 37,550 companies, a far greater number than any other country. Experts say this is probably due to the enthusiasm of Japanese entrepreneurs to work with regional communities and pass on business to their descendants, rather than just seeking profit.

According to data compiled in 2019 by Teikoku Databank Ltd. and Bureau van Dijk , the United States was in second place with 19,497 companies in the category and Sweden was in third place with 13,997 .

The oldest confirmed corporation in Japan is Kongogumi Co. , a construction company in Osaka said to date back to the year 578 . Their representatives claimed that the company’s founder was one of the artisans invited by Prince Shotoku .

Kongō Yoshie, the 38th master carpenter of the Kongō Gumi, and his employees.

Tokyo-based Toraya Confectionery Co. , famous for its traditional “Yokan” jelly, also has a long history, having been founded during the Muromachi Period (1336-1573) of Japanese history. Records show that Toraya Confectionery provided its confectionery during the reign of Emperor Goyozei (1586-1611) while confectionery catalogues, wooden molds for confectionery as well as other historical items remain with the corporation.

The factors that help Japanese companies survive for so long are believed to be the fact that they account for 51% of all companies listed on the former First Section of the Tokyo Stock Exchange. This is a characteristic that, although typical of Japanese companies, is rarely found in other parts of the world. According to the data that appears in the First Section of the Stock Exchange, the number of businesses reached 589 companies, a huge number that is not reported anywhere else in the world.

Toraya Confectionery Co. “Wagashi” traditional sweets production company founded almost 700 years ago.

Within these centuries-old corporations (some even millennia-old) are many construction companies , whose first projects were the construction of many of the castles and temples that are currently standing in Japan.

The keep of Odawara Castle was one of the projects carried out by Matsui Kensetsu , the oldest listed company in Japan.

The Matsui Kensetsu Company reconstructed the main hall of the Tsukiji Hongwanji Temple in Tokyo, which has been designated an important cultural property; the keep of Odawara Castle in Kanagawa Prefecture ; the Ishikawa Gate of Kanazawa Castle ; the Inui tower of Kumamoto Castle and a palace in the central area of ​​Nagoya Castle , among others. And it is that the transmission of traditional techniques, cultivated since the foundation of these companies, is part of their social mission.

Teikoku Databank states that the tactics of long-standing companies unique to Japan are known as a “growth ring” model.

Almost entirely, they are established family businesses that put more effort into preserving their own company and clan traditions for future generations and posterity , rather than focusing solely on trying to maximize profits . This way of thinking greatly impacts the ways in which successors are selected as presidents are often chosen from members of founding families, while staff members sometimes marry daughters. from the previous bosses so they can take over. More recently, the wives of the sons of presidents also assume leadership.

The following is a list of the oldest Japanese companies according to data from the Teikoku Databank and the locations of the headquarters of the same companies.