Coronavirus-Linked Biz Failures Seen in All Japan Prefectures

Economy

Tokyo, Sept. 2 (Jiji Press)--Coronavirus-linked business failures leaving liabilities of 10 million yen or more have been reported in all prefectures in Japan, according to Tokyo Shoko Research Ltd.

The collapse of a local civil engineering firm in Kochi Prefecture was confirmed on Tuesday, becoming the western prefecture’s first such case.

In Japan so far, there have been 446 business failures linked to the coronavirus epidemic. Liabilities left in the cases totaled some 250 billion yen.

After a “ryokan” traditional Japanese hotel in Gamagori, Aichi Prefecture, central Japan, went under in late February, coronavirus-triggered business failures, mainly in the restaurant, apparel and hotel industries, spread to 42 prefectures including Tokyo and Osaka by May.

Although the monthly number of such business failures is on a downtrend after peaking at 103 in June, the collapse of financially weak companies is continuing amid the lingering epidemic.

[Copyright The Jiji Press, Ltd.]

Jiji Press