Heir Liquidates 1,428-Year-Old Family-Owned Business: Kongo Gumi was the world's oldest company. It operated from right around the time when the Roman Empire crumbled in 578 A.D. until 2006, when it was acquired by Japanese construction firm Takamatsu. The 40th and final descendant to be president, Masakazu Kongo, buckled under the pressure of shrinking assets and piling debt until he was forced to sell the business. Centuries prior, it built Buddhist temples and rustic castles that remain standing to this day. But by 2004, its revenues were down by 35 percent, and Masakazu said "screw it." The oldest company in the world was no more.