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Oldest companies in Japan and the world

Astroboy

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This list of the oldest companies includes brands and companies, excluding associations, educational, government or religious organizations. To be listed; a Brand or Company name must remain, either whole or in part, since inception. If the original name has since changed due to acquisitions or renaming, this must be verifiable on their website.
In 2009, according to the report by Tokyo Shoko Research[1], there are 21,666 companies which lasts over 100 years including 8 companies aged over 1000 years in Japan. There are 837 companies lasting over 200 years in Germany, 222 in Holland and 196 in France. 89.4 per cent of the company with over 100 years of history have less than 300 people.
List of oldest companies - Wikipedia

Est. Year Name of Company Type of Business
578 Kongo Gumi Construction
社寺建築の金剛組 Japan's oldest company (the world oldest company)
705 Keiunkan Hotel
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1831 Takashimaya Dept-store


World economists often said .... Japan's debt is unsustainable and will go bankrupt soon or later. But those eoconomists don't know:

1. Japan's debt is Japanese asset as all the debts are financed within Japan in JPY.

2. Japan's economy is well structured to gain money from overseas as J-companies already established a network of foreign investments on real economies. Money automatically piles up.

3. Because Japan is ageing and the population is shrinking, money supply is always more than demand, and thus base rate continuue to be lower. No inflation but deflation.

4. As far as J-government can continue roll-over forever in Japan in JPY, debt is nothing.

5. Because Japan is a sovereign nation with permanent life, unlike ordinary private companies, roll-over forever is not a problem.

But even private companies, as above, there are many old companies, including 8 companies even with 1,000+ years history ! They continue roll-over for more than 1000 years!
This is Japan's Miracle, and possible only in Japan, as Japan's continuity is rockbottom.
 

Astroboy

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Dubai’s Trail of Dud Deals Shows Sovereign Wealth Gone Awry Bloomberg - Are you a robot?

Sovereign Wealth Fund (SWF) was booming until Last September. Dubai SWF competed with Japan's UNIQLO clothing chain for bidding takeover of Barney's New York some year ago, but Dubai SWF won.
But at the end of day, SWF itself collapsed....

Japanese lesson: Going Concerns should stay at real business, Better not money game. Then more chance for 1,000 years life.
 

Dogen Z

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It's nice to hear about companies doing well for so long, but I'm afraid my interest is a little more short-term (but not quarterly like U.S. hedge fund managers). In particular, I'm worried about JAL and Sony. Do you think it's a good time to buy or not? The yen looks like it's going to be strong for awhile because of a potential trade dispute with China - so China may hold back on its purchase of U.S. Treasuries. :?
 

Astroboy

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It's nice to hear about companies doing well for so long, but I'm afraid my interest is a little more short-term (but not quarterly like U.S. hedge fund managers). In particular, I'm worried about JAL and Sony. Do you think it's a good time to buy or not? The yen looks like it's going to be strong for awhile because of a potential trade dispute with China - so China may hold back on its purchase of U.S. Treasuries. :?

As far as I know, JAL is the same as GM in USA. Legacy costs (pension & salary of pilots, etc.) reach unsustinable level. So there are two options for JAL: 1) Go bankrupt and call court protection; or 2) Find sponsor like Delta/American airline. Either way, cannot live for 1,000 years....

I don't know about SONY, which is already American company, I think. Howard Stringer (?) focused on short-term profit too much.

YEN does not go up, but USD goes down against all major currencies.

China has no choice than purchasing UST-bonds as they want to keep RMB as low as possible. So more risk to China. That's why China is seeking other currencies to be alternative of USD. But not realisitc for the time being. IF China wants to be prosperous for next 1,000 years, RMB need to go float. But if they did, China will not be China anymore.

Interesting isn't it?
 

Dogen Z

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As far as I know, JAL is the same as GM in USA. Legacy costs (pension & salary of pilots, etc.) reach unsustinable level. So there are two options for JAL: 1) Go bankrupt and call court protection; or 2) Find sponsor like Delta/American airline. Either way, cannot live for 1,000 years....
I don't know about SONY, which is already American company, I think. Howard Stringer (?) focused on short-term profit too much.
YEN does not go up, but USD goes down against all major currencies.
China has no choice than purchasing UST-bonds as they want to keep RMB as low as possible. So more risk to China. That's why China is seeking other currencies to be alternative of USD. But not realisitc for the time being. IF China wants to be prosperous for next 1,000 years, RMB need to go float. But if they did, China will not be China anymore.
Interesting isn't it?

Chou omoshiroi desu kedo osoroshii tokoro mo aru desu ne.

I think your comparison of JAL to GM is apt, but Sony may be able to regain its luster under Stringer because he's getting advice from Lou Gerstner, who turned IBM around.

BTW, Mitsukoshi, est. in 1673, is much older than Takashimaya.
 

Astroboy

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I found an interesting link about world's old family businesses - The Henokiens !
http://www.henokiens.com/index_histo_gb.php#carte

An association of family and bicentenary companies consist of 42 members:
15 Italian, 12 French, 4 German, 2 Dutch, 1 from Northern Ireland, 5 Japanese, 1 Belgian and 2 Swiss.
In 1981, recognising and co-opting each other, they formed a group, creating a restricted and rigorous international organisation: the Henokiens.

Henokiens Association membership criteria are: company longevity – a minimum age of 200 years – and permanence – the family must be owner of the company or the majority share holder - one member of the founder must still manage the company or be a member of the board – and the company must be in good financial health. In addition, being modern is a final requirement.
Created in 1981, the objective of the Association is the development of its membership throughout the world around a common philosophy: the value of the concept of the family company, real alternative to the multinationals .....

It is natural that there is no old company in USA because US history is about 200 years ! But I am not sure why there is no UK Henokian.
 
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