Business strategies of companies with a longevity of 300 years or longer in Japan: A concept model.

Abstract

This study was conducted to explore and evaluate the key factors supporting the business sustainability and longevity of firms that have survived for 300 years and more in Japan. The business owners of 10 such companies in Nihonbashi, Tokyo, Japan, were invited to interviews. The interview data was analysed with a text mining approach to develop the key themes advocating these companies’ business sustainability. From the research, a conceptual framework was developed, suggesting four key factors perceived by the owners: ‘customers and products’, ‘owner and employees’, ‘management and business credo’ and ‘change and risk management’. It was also found that non-economic values and the perception as a member of the community (‘Sanpo-Yoshi’) are embedded in their mindsets, which have been driving forces for these firms’ business behaviour.