The oldest company in the world: It has existed for 1,400 years

The oldest company in the world is located in Japan and its activity has a lot to do with Buddhism.

Kongō Gumi is a family business that specializes in temple building. It all started in 578 AD, when a famous Korean builder named Shigemitsu Kongo He was sent to the land of the Rising Sun to build a Buddhist temple. Buddhism was a new religion in Japan at the time, and there weren’t many craftsmen capable of building temples.

Kongo, the protagonist of the story, was commissioned to build the “Temple of the Four Heavenly Kings”, which can still be found today in Osaka, Japan. From that moment on, a member of the Kongo family decided to start the temple building business, under the name of Kongō Gumi today and has survived for 40 generations, to this day it is still active.

As you can easily imagine, the company has survived many disasters, both natural and man-made, including for example two world wars, famines, economic and political collapses, and none of that put it at risk or caused them to be at risk. on the brink of crisis. However, it was 2006 that brought the company to its knees, since in that year it had to liquidate its assets due to the difficult financial situation created by the “financial bubble of the eighties.”

In fact, between 1986 and 1991, the Bank of Japan made too many low-interest loans in Japan due to the steady growth in demand for luxury goods and real estate. That sparked an asset bubble as many companies were quick to borrow despite taking on huge amounts of debt.