Kongo Gumi – Japanese construction company record holder
Specialized in building wooden structures. Initially temples and palaces, later also hotels and restaurants. Certainly the unique skills of the carpenters, carpenters and woodcarvers employed there. They have given Kongo Gumi a reputation as one of the most solid companies in the industry.
After World War II, it expanded its activity to residential and industrial construction. So the company earned more, but lost its uniqueness. At the turn of the 20th and 21st centuries, representatives of the 51st generation were seduced by the vision of huge profits brought by the skyrocketing prices of flats. In addition, to multiply them, they took out more and more loans. And when the real estate bubble burst, they were left with a gigantic debt. In 2005, the world’s oldest company went bankrupt.