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How Japan’s Oldest Companies Navigate Uncertainty

by Claudio Fernández-Aráoz, Masahiro Kotosaka, Yasushi Maruyama and Gregory Nagel In 1945, an air raid destroyed the main Tokyo factory of Toraya, a leading Japanese confectioner since the 16th century. Despite the ongoing world war, the company began rebuilding almost immediately; later, even when sugar became scarce and Japan’s future uncertain, it kept operating, experimenting, […]

By deepak · August 31, 2026 · 1 min read

by Claudio Fernández-Aráoz, Masahiro Kotosaka, Yasushi Maruyama and Gregory Nagel

In 1945, an air raid destroyed the main Tokyo factory of Toraya, a leading Japanese confectioner since the 16th century. Despite the ongoing world war, the company began rebuilding almost immediately; later, even when sugar became scarce and Japan’s future uncertain, it kept operating, experimenting, pressing on. The logic was simple: Toraya existed to make sweets and would continue to do so no matter what was happening around it. Today, with three factories and some 80 stores across Japan as well as a boutique in Paris, it still does.

Source: Read the original article on hbr.org