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Small Japan firms dying out as aging owners struggle to find successors
FULL ARTICLE HERE
Japan's small firms, many of which are "mom-and-pop" operations, are dying out as their aging owners struggle to find successors, in another sign that the fast-ageing population is taking its toll on the world's third-largest economy.
Prime Minister Shinzo Abe has targeted more business start-ups as a crucial part of regenerating activity, but the impact has been minimal so far, with the number of small firms that are closing their doors at a near record high.
Takayasu Watanabe, 72, has closed a chalk-making business in Nagoya, central Japan, that his family had operated for more than 80 years. He sold technology, equipment and trademark rights to a South Korean company last year.
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It's not just that, it's the fact that the mega conglomerates are taking over the local areas. Sure you could go to Mr Yamada who sells really nice handmade stuff, but the local megamart has similar stuff for much cheaper prices.
It's the Wal-Mart effect, only without Wal-Mart.
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Makes sense though. Unless you live in a super small town where there wouldn't be a market for big megastores, there is pretty much no need for smaller stores when most people shop at big stores.