10 Years On: Japan Firms Struggling in Post-Lehman Era of Change
Tokyo, Sept. 21 (Jiji Press)--The collapse of U.S. investment bank Lehman Brothers in September 2008 caused demand to evaporate globally, sending Japanese companies into a tailspin just as they were emerging from the lost decades after the end of their country's bubble economy.
Even behemoths like Toyota Motor Corp. <7203> and Hitachi Ltd. <6501> suffered huge losses. Many companies rushed to raise capital and carried out painful restructuring to stay afloat.
Some companies fell, while others overcame the crisis. Ten years later, survivors are now grappling with seismic changes in the business environment caused by technological innovation.
[Copyright The Jiji Press, Ltd.]