Pandemic-Linked Bankruptcies Rising among Larger Firms in Japan

Economy

Tokyo, May 10 (Jiji Press)--Bankruptcies linked to the coronavirus pandemic are beginning to increase among larger Japanese companies, not just among small businesses, a Tokyo Shoko Research Ltd. survey has suggested.

The number of pandemic-linked corporate failures leaving liabilities of 1 billion yen or more came to 25 in January-April, up from 24 in July-December last year, according to the survey by the private research firm.

On a quarterly basis, such bankruptcies totaled 30 in April-June 2020, including a period when the first state of emergency over the pandemic was in place in the country.

The quarterly total fell to 10 in July-September and 14 in October-December but rebounded to 20 in January-March 2021.

In particular, such large-scale bankruptcies are increasing in the hotel, manufacturing and construction industries.

[Copyright The Jiji Press, Ltd.]

Jiji Press