INTERGENERATIONAL ENTERPRISE

Accounting for more than half of all companies listed on Tokyo's Prime Market, family businesses offer valuable lessons in longevity.

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IN JAPAN, BUSINESS IS OFTEN A FAMILY affair. With around 95% of companies in the country said to be family-owned, this widespread ownership model plays a major role in shaping the nation's economic landscape. To outsiders, the term "family business" can often evoke images of something small, inefficient, or insular. And while there may be some truth to these perceptions, the advantages often far outweigh the drawbacks. Japan's deep-rooted tradition of family-run enterprises is a key reason behind the exceptional longevity of its companies. In fact, the five oldest continuously operating firms in the world are all Japanese. Many see Japan's family businesses as key to drawing growth a