Japan is home to an extraordinary number of long-standing enterprises, with around 37,550 companies operating for over a century. The Tokyo Stock Exchange featured 589 companies over 100 years old in its former First Section until 2022, surpassing any other exchange globally. Among these, family-owned businesses accounted for 51% of listed firms. The oldest listed company is Matsui Kensetsu, a construction firm founded in 1586. Tokyo hosts the top five oldest listed companies, all of which predate the exchange by at least 200 years. Businesses over a century old are known as shinise, meaning “old shop,” and most are family-owned. Japanese culture and the tradition of passing businesses to descendants contribute to the success and longevity of these firms.
Here are the 10 largest Tokyo family businesses by revenue:
10. Pasona Group – Owning Family: Nambu | Founded: 1976 | Revenue: $2.6B
Founded by Yasuyuki Nambu as Temporary Center Inc., Pasona Group grew through franchising and acquisitions in staffing services. Today, it employs over 23,000 and has offices in Asia and the US. Pasona operates 66 subsidiaries and 9 affiliates, making it one of Japan’s largest staffing companies.
9. Hikari Tsushin, Inc. – Owning Family: Shigeta | Founded: 1988 | Revenue: $4.5B
Started by Yasumitsu Shigeta, the firm began selling mobile phones through Hit Shop stores. Post-2000, it became a holding company for 13 subsidiaries spanning telecommunications, office automation, corporate insurance, and communication services.
8. Sundrug Co. Ltd. – Owning Family: Tada | Founded: 1957 | Revenue: $5.2B
Operating 783 drug stores and 560 discount store locations, Sundrug sells pharmaceuticals, cosmetics, and household goods. The business passed from founder Yukimasa Tada to his sons Naoki and Takashi, who also run a shopping mall company near Tokyo.
7. Bic Camera Inc. – Owning Family: Arai | Founded: 1978 | Revenue: $5.6B
Bic Camera started as a discount camera retailer. Under founder Ryuji Arai, the company expanded to home appliances, computers, sporting goods, and premium Apple reseller stores. It also owns Nippon BS Broadcasting Corporation.
6. Otsuka Corporation – Owning Family: Otsuka | Founded: 1961 | Revenue: $6.6B
Japan’s largest IT management company, Otsuka Corp. provides system integration, software, and equipment sales, plus maintenance and educational support. Yuji Otsuka leads the company his father, Minoru, founded.
5. Open House Group – Owning Family: Arai | Founded: 1997 | Revenue: $6.9B
Started as a real estate agency, Open House Group became a full property developer in 2001. The company sells homes in Tokyo and the US, focusing on Texas, Georgia, and Los Angeles. Founder Masaaki Arai remains CEO.
4. Yamazaki Baking Co. Ltd. – Owning Family: Iijima | Founded: 1948 | Revenue: $7.6B
The world’s leading bread-baking corporation, Yamazaki Baking creates over 1,000 new products yearly. Led by Nobuhiro Iijima, the company operates internationally, with locations in Hong Kong, Thailand, Taiwan, and the US.
3. Yazaki Corporation – Owning Family: Yazaki | Founded: 1941 | Revenue: $12.5B
Originally an automotive wire harness manufacturer, Yazaki now produces vehicle power and data solutions. The company employs over 235,000 across 141 subsidiaries in 45 countries. Riku Yazaki leads the firm founded by his grandfather, Sadami.
2. Suntory Holdings Ltd. – Owning Family: Saji | Founded: 1899 | Revenue: $20.2B
Global consumer goods leader Suntory produces premium spirits, beer, wine, and wellness products. Founder Shinjiro Torii introduced Western-style liquors to Japan. His grandson Nobutada Saji chairs the company, while Shingo Torii oversees global whisky production.
1. Idemitsu Kosan Co. Ltd – Owning Family: Idemitsu | Founded: 1911 | Revenue: $66B
Founded by Sazo Idemitsu, the company focused on oil trade despite coal dominance in Japan. Today, Idemitsu Kosan operates in petroleum, chemicals, materials, power, and renewable energy. It processes 945,000 barrels daily and runs 6,100 service centres nationwide. Masakazu Idemitsu, the founder’s grandson, is a key director.
