This Japanese shop is 1,020 years old. It knows a bit about surviving crises

Japan is an old-business superpower, home to over 33,000 with at least 100 years of history – more than 40 per cent of the world’s total.

Ichiwa, which has been selling mochi to travellers for more than a thousand years, in Kyoto in October. PHOTO: NYTIMES

(NYTIMES) KYOTO - Ms Naomi Hasegawa's family sells toasted mochi out of a small, cedar-timbered shop next to a rambling old shrine in Kyoto. The family started the business to provide refreshments to weary travellers coming from across Japan to pray for pandemic relief - in the year 1000.

Now, more than a millennium later, a new disease has devastated the economy in the ancient capital, as its once reliable stream of tourists has evaporated. But Ms Hasegawa is not concerned about her enterprise's finances. Like many businesses in Japan, her family's shop, Ichiwa, takes the long view - albeit longer than most.

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