Business

Company's succession crisis. The authorities are fighting to save traditions


According to the details of 2024, quoted by World Economic Forum, 52.1 percent Japanese companies do not have a designated successor. According to expert forecasts, 1.27 million small and medium -sized enterprises will close by the end of 2025, which is one third of all companies in Japan. This means a reduction of 6.5 million jobs and a decline in Japan's GDP by 22 trillion yen (about $ 154 billion). The majority of these companies are craft facilities based on age -old traditions.

Japanese authorities try to secure unique skills, traditional techniques and priceless knowledge. The Ministry of the Interior and Communication in cooperation with local governments has developed integrated Succession Support Program. These initiatives include various solutions – from searching for new owners to financial support after taking over.

Ashley Davis

I’m Ashley Davis as an editor, I’m committed to upholding the highest standards of integrity and accuracy in every piece we publish. My work is driven by curiosity, a passion for truth, and a belief that journalism plays a crucial role in shaping public discourse. I strive to tell stories that not only inform but also inspire action and conversation.

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