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Many family firms – car-maker Suzuki, Matsui Securities, and giant brewery Suntory – break the rule of steady dynastic decline, or what is sometimes cruelly dubbed the "idiot-son syndrome". Remarkably, more than 90 per cent of those adopted were adults.The practice of adopting men in their 20s and 30s is used to rescue biologically ill-fated families and ensure a business heir, says Vikas Mehrotra, of the University of Alberta, the lead author of a new paper on the Japanese phenomenon of adult adoptions."We haven't come across this custom in any other part of the world," he says.
None of my friends were adopted, or maybe they just weren't talking about it.
Generally speaking, family heirs only partially inherit intelligence and business knowledge, while the burden of title birthright appears to do little more than deaden would-be talent and chase away ambitious managers.
With those inherent disadvantages in mind, it’s little wonder family-run firms are a dying breed in most developed economies. Not only are a third of Japanese corporations still family-run, but those family firms are outperforming professionally managed companies in virtually every way.
Like many men in Japan, Tsunemaru Tanaka is looking for a wife.
Unlike some, he is prepared to sacrifice his name to get one.
Family firms in Japan boast higher profitability and market valuation, as well as higher growth in sales and employee numbers, than their rival companies.