Coronavirus-Linked Biz Failures Top 300 in Japan

Economy

Tokyo, July 1 (Jiji Press)--The number of corporate bankruptcies linked to the novel coronavirus exceeded 300 on Wednesday, leaving liabilities worth more than 200 billion yen in total, according to Teikoku Databank Ltd.

Many companies were forced out of business, with the pace of recovery from the coronavirus fallout having been slow especially for small firms even though the government completely lifted the state of emergency in early May.

According to the credit research firm, the number of coronavirus-linked failures came to 308 as of Wednesday evening. Among them were 49 restaurants and 45 hotels.

Excluding those not yet surveyed, liabilities left by 298 companies stood at some 211 billion yen.

Virus-linked bankruptcies spanned 42 of Japan's 47 prefectures, with Ehime seeing the first case the same day.

[Copyright The Jiji Press, Ltd.]

Jiji Press