150 Coronavirus-Linked Biz Failures Reported in Japan

Economy

Tokyo, May 15 (Jiji Press)--The number of corporate bankruptcies related to the coronavirus crisis has reached 150 across Japan, Tokyo Shoko Research Ltd. said Friday.

Such business failures have occurred in 40 of the country's 47 prefectures, including the bankruptcy of an apparel company in Ichinoseki in the northeastern prefecture of Iwate, the only prefecture without a confirmed coronavirus case.

The total number includes companies that are preparing for bankruptcy after experiencing virtual business failure.

Of the total, 30 were in the accommodation sector, hit by a slump in the number of foreign visitors and authorities' stay-at-home requests to prevent the spread of COVID-19.

There were 22 bankruptcies in the restaurant sector and 20 in the apparel sector.

[Copyright The Jiji Press, Ltd.]

Jiji Press