Small Japan firms dying out as aging owners struggle to find successors
FULL ARTICLE HEREJapan'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.