4 ms·

Is it only Japan that has such a long time horizon? I feel like that a subset of Japanese companies really try their best to simply stay alive for hundreds of y

Is it only Japan that has such a long time horizon? I feel like that a subset of Japanese companies really try their best to simply stay alive for hundreds of years. Just looking at this list, Japan just obliterates any other country in having the oldest companies in the world [1]. I feel like there are lessons to be learned here. I hope someone on HN knows a thing or two about it. https://en.wikipedia.org/wiki/List_of_oldest_companies https://en.wikipedia.org/wiki/List_of_oldest_companies

robotmay 6y ago
I do recall something about how Japanese companies are traditionally careful with their money, and therefore expansion. I can't remember where I read it, but there was a tendency to save money during the good times by not chasing excessive growth in order to have a buffer for more difficult times. Maybe this is a reflection of the impetus on the leaders of companies to take responsibility for their failures, in that they are therefore less inclined to take risks; it's usually the CEO who resigns before they axe swathes of employees. From what I've seen of Japanese culture, I think they have a very interesting ability to explore their creativity but without straying too far from what they already know. Nintendo opts for tried-and-true hardware in their consoles, but implements creative new ideas using it. Craftsmen from Japan are renowned worldwide for things like woodcraft and musical instruments etc, and from the various videos I've watched the thing that has struck me most about their attitude to their craft is _patience_.
- psychomugs 6y ago
  Relevant prior discussion on Nintendo's lateral thinking with withered technology [1]. [1] https://news.ycombinator.com/item?id=22791300 https://news.ycombinator.com/item?id=22791300
bobthepanda 6y ago
Japan has an extensive history of employers adopting male employees to keep successors "in the family", which may explain at least part of this: https://www.independent.co.uk/life-style/japanese-adoption-rates-majority-adult-men-a7524301.html https://www.independent.co.uk/life-style/japanese-adoption-r... The Western family unit has not generally been associated with business as strongly. One could also make the point that Japan's long time horizons were a leading factor in the "lost decade"; Western companies reorganize and recapitalize through bankruptcy and some do not survive the process, but Japan's focus on stability kept "zombie" companies operating longer than they should have.
- 082349872349872 6y ago
  Western companies also reorganise involuntarily, through leveraged buy-outs. Are these not big in Japan?
  - bobthepanda 6y ago
    Not really, at least not until recently: https://www.reuters.com/article/us-private-equity-asia-breakingviews/breakingviews-buyout-giants-break-through-the-ice-in-japan-idUSKBN1CB06U https://www.reuters.com/article/us-private-equity-asia-break...
userbinator 6y ago
They're mainly family-owned and the business just gets passed along to the next generation. They're also "timeless" businesses; things like construction and hospitality have been a necessity basically since humans existed.
dorkwood 6y ago
I once visited Japan on a business trip. At the company I was hosted by, every person I spoke to had worked there for 15 years or more. Their culture frowns upon job-hopping, which I would guess also has something to do with company longevity.

robotmay 6y ago

I do recall something about how Japanese companies are traditionally careful with their money, and therefore expansion. I can't remember where I read it, but there was a tendency to save money during the good times by not chasing excessive growth in order to have a buffer for more difficult times. Maybe this is a reflection of the impetus on the leaders of companies to take responsibility for their failures, in that they are therefore less inclined to take risks; it's usually the CEO who resigns before they axe swathes of employees. From what I've seen of Japanese culture, I think they have a very interesting ability to explore their creativity but without straying too far from what they already know. Nintendo opts for tried-and-true hardware in their consoles, but implements creative new ideas using it. Craftsmen from Japan are renowned worldwide for things like woodcraft and musical instruments etc, and from the various videos I've watched the thing that has struck me most about their attitude to their craft is _patience_.

psychomugs 6y ago
Relevant prior discussion on Nintendo's lateral thinking with withered technology [1]. [1] https://news.ycombinator.com/item?id=22791300 https://news.ycombinator.com/item?id=22791300

bobthepanda 6y ago

Japan has an extensive history of employers adopting male employees to keep successors "in the family", which may explain at least part of this: https://www.independent.co.uk/life-style/japanese-adoption-rates-majority-adult-men-a7524301.html https://www.independent.co.uk/life-style/japanese-adoption-r... The Western family unit has not generally been associated with business as strongly. One could also make the point that Japan's long time horizons were a leading factor in the "lost decade"; Western companies reorganize and recapitalize through bankruptcy and some do not survive the process, but Japan's focus on stability kept "zombie" companies operating longer than they should have.

082349872349872 6y ago
Western companies also reorganise involuntarily, through leveraged buy-outs. Are these not big in Japan?
- bobthepanda 6y ago
  Not really, at least not until recently: https://www.reuters.com/article/us-private-equity-asia-breakingviews/breakingviews-buyout-giants-break-through-the-ice-in-japan-idUSKBN1CB06U https://www.reuters.com/article/us-private-equity-asia-break...

userbinator 6y ago

They're mainly family-owned and the business just gets passed along to the next generation. They're also "timeless" businesses; things like construction and hospitality have been a necessity basically since humans existed.

dorkwood 6y ago

I once visited Japan on a business trip. At the company I was hosted by, every person I spoke to had worked there for 15 years or more. Their culture frowns upon job-hopping, which I would guess also has something to do with company longevity.