The purpose of this paper is to identify the important factors for sustainability in Japanese family businesses. Family businesses in Japan are well prepared in succession planning and have the greatest longevity of any in the world.
In this study, 15 family businesses in Japan were explored in the food and beverage, confectionary, services, handicraft, pharmaceuticals and manufacturing sectors.
The important sustainability factors identified in this study, innovation, competitive advantage, leadership and team management, and establishing good relationships with the local community are the key steps for achieving family business succession.
Startups and new family businesses in other countries can learn how to run a company successfully based on the Japanese model by applying the keys to success.
