A Japanese company that began in 578 A.D. is closing its doors and is preparing to liquidate its assets. The 1,428 year old business specialized in the construction of Japanese temples. Kongo Gumi has enjoyed what may turn out to be the longest running family business in history (unless you count the Catholic Church, of course) but has finally succumbed to an unfavorable market for Japanese temples. It appears that they just aren't flying off the shelves like they used to.

Kongo Gumi was founded by immigrants from Baekje, Korea. They were brought to Japan by then Japanese Prince Shotoku under orders to build the Buddhist Shitennoji Temple, which still stands even today. The family has continued to be owned and operated by the founders' descendants during its entire 1,400 years history, effectively making it the official world's oldest 'family business'. Kongo Gumi's line of descendants often included step-sons who would take on the family name in order to take on the role of operating the business and the company has a history of being handed down to daughters as well as sons in order to preserve its long family-driven lineage – a linage that can be traced back by a 10-foot long, 17th century scroll that lists 39 generations!

Kongo Gumi's decline began in the 1980's when bad investments coupled with diminishing asset value began to take its toll. Those reasons, coupled with the declining market for Japanese temples and an immensely unfavorable 2006 fiscal year, led to the decision. Kongo Gumi was recently bought out by Takamatsu Corporation, a Japanese construction company. The assets are likely to be absorbed by one of the large corporation's subsidiaries.

Kongo Gumi is known for constructing some of the most well-known and important Japanese temples that are highly valued as imperative monuments to the Japanese culture. These include, but certainly are not limited to the 16th century Osaka Castle and Horyuji Temple in Nara. These temples are exquisite structures that showcase the firm's ability to construct temples that reflect the heart of Japanese architecture.

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