Reflections on 'The Future of a 100-Year-Old Company Saved by a 24-Year-Old's Decision: The 4th Generation of Yoshikai Kamaboko Co., Ltd.'

September 24th: The Business Succession Forum 2025 was held in Sagamihara City.

When people hear 'business succession,' many imagine difficult topics like 'succession problems' or 'how to preserve a company.' However, the forms of business succession are now truly diversifying, and it has become a major opportunity to create new challenges.

Prologue: 'The 5 Exit Strategies Faced by Business Owners'

Speaker: M&A Planner / Purpose Management Designer, Shinichi Nakamura

I serve as a lecturer for entrepreneurship programs and startups, but there is one thing I tell them first: starting a business comes with five possible exits.
In this forum, we will consider three of them: business succession (within the family), M&A (third-party succession), and liquidation (closing the business).
Compared to five years ago, even closing a business has come to be viewed in a more positive light.

In family business succession, there are companies like Fast Retailing and Dassai that have grown into global enterprises after the transition.
There is also an environment that fosters growth. I introduced 'Kenja no Sentaku Succession' (The Wise Choice Succession), for which I serve as an ambassador.Kenja no Sentaku Succession

Where does corporate value lie?
As an M&A planner and purpose management designer, when I look at corporate value,
I explore it through intangible assets.
The perspective on corporate value differs between family succession and third-party succession.

I first met Mayu Hayashida, the 4th generation of Yoshikai Kamaboko Co., Ltd., in 2021.
It was at an online study session and networking event held by the Japan M&A Promotion Foundation. Mayu Hayashida, who was in charge of the secretariat, later became the 4th generation of Yoshikai Kamaboko.

After receiving feedback from support organizations and local governments that business succession seminars were struggling to attract attendees, I planned the first business succession seminar, which was a great success.

Diversifying business succession—this is the major theme of this forum.

Keynote Speech: 'The Miraculous Business Succession Sparked by a 24-Year-Old Woman'

Speaker: Mayu Hayashida, Representative Director and 4th Generation of Yoshikai Kamaboko Co., Ltd.

Mayu Hayashida's lecture content has been well summarized by an acquaintance who attended the forum,
Shimomayu @note lecturer, so please take a look.

Session: 'New Entrepreneurship Called Business Succession'

Panelist: Mayu Hayashida, Representative Director and 4th Generation of Yoshikai Kamaboko Co., Ltd.
Panelist: Takehiro Noge, Kanagawa Prefecture Business Succession and Takeover Support Center
Moderator: Shinichi Nakamura, Director, Yamaguchi Research Institute Ltd.

The talk session proceeded by selecting from eight keywords based on the participants' profiles, the atmosphere of the venue, and Mayu Hayashida's lecture today.

Since Mayu Hayashida's current success stems from her learning and acting on venture business theory at Fukuoka University, we started by discussing entrepreneurship.
While startups are becoming more active and students are often working on 0-to-1 business models, Mayu Hayashida worked on a 1-to-infinity business that utilizes existing management resources. We delved into her thoughts on this.

This is the third year and the fourth time in total that I have held a talk session with Mayu Hayashida.
In her lecture, she spoke about how the business went from suspension and closure to continuation.
Three years ago, closing a business was seen negatively, but now it is viewed quite positively. To view it positively, one must act early.
This was a shared opinion among the two panelists and myself.
Therefore, we held a discussion on developing the idea of closing a business in a positive way.

With Mayu Hayashida becoming the 4th generation and the 3rd generation of Yoshikai Kamaboko, in terms of age, it is a case of the grandchild generation taking over the business.
Since I started working in business succession, I have felt that the grandchild generation tends to have more interest in the family business than the children. Also, while there can be difficulties in communication between parents and children, it seems that skipping a generation creates a relationship where communication is easier.
We delved into this relationship with the grandchild generation regarding business succession.

Finally, 'philosophy.' Recently, it's called 'purpose.'
Many entrepreneurs in startups state their corporate or management philosophy, and the same has become true for successors. To gain empathy from stakeholders, managers and successors talk about their 'philosophy,' 'purpose,' and vision. This can lead to connections with collaborators, business partners, and customers.
Mayu Hayashida spoke extensively about the philosophy of Yoshikai Kamaboko Co., Ltd.

Finally, the diversification of business succession

Three years ago, I produced this business succession project in Yamaguchi Prefecture and held it three times. This time, it was held outside the prefecture for the first time.
The forms of business succession are diversifying, ranging from unique successions like that of Yoshikai Kamaboko Co., Ltd. to successions via search funds.
Business succession supporters and consultants are also being required to have the ability to respond to this diversifying landscape of business succession.
I myself have begun activities to adapt to this diversification.
Regional revitalization is achieved by supporting future-oriented existing companies and engaging in sustainable initiatives.
I will continue my activities so that business succession forums and seminars like this one can be held in other regions as well.