Japan Sees 8 Cases of Coronavirus-Linked Bankruptcies

Economy

Tokyo, March 11 (Jiji Press)--Eight cases of bankruptcies due to the fallout from the spread of the new coronavirus have occurred in Japan, credit research firm Teikoku Databank Ltd. said Wednesday.

Liabilities involved came to 3,221 million yen, according to the company. At the failed companies, the viral outbreak led to decreases in customers or a flurry of cancellations of reservations, it said.

Three of the eight cases were in the Kinki western region, and one each in the northernmost prefecture of Hokkaido, the Tohoku northeastern region, Hokuriku and Chubu in central Japan, and the Chugoku western region.

Most of the failed firms were from the tourism industry, including a cruise operator, a hotel operator and a travel agency.

There has so far been no case of bankruptcy confirmed to have been caused directly by the viral outbreak, according to Teikoku Databank.

[Copyright The Jiji Press, Ltd.]

Jiji Press