print PRINT

ECONOMY

Japan corporate bankruptcies up 16 pct in Jan.

  • February 10, 2020
  • , Jiji Press , 5:53 p.m.
  • English Press

Tokyo, Feb. 10 (Jiji Press)–The number of corporate bankruptcies in Japan in January rose 16.0 pct from a year before to 773, marking its fifth straight month of increase, Tokyo Shoko Research Ltd. said Monday.

 

The data covered failures involving liabilities of 10 million yen or more, according to the credit research company.

 

The number of bankruptcies increased in all of the country’s nine regions for the first time in some 11 years.

 

The figure jumped in the Tohoku northeastern region, up 2.7-fold to 47. “The economy is weak in the region where demand for reconstruction from the March 2011 disaster has run its course,” a Tokyo Shoko official said.

 

The Chugoku western region saw its number of bankruptcies grow 52.3 pct to 32, and Hokkaido, northernmost Japan, reported a 31.2 pct rise to 21.

 

Total liabilities involved in the bankruptcies across the country dropped 25.9 pct to 124,734 million yen, marking the first decrease in three months.

 

Tokyo Shoko expressed concerns over the possible impact of the spread of the new coronavirus. Production suspensions in China and a fall in the number of Chinese tourists may make corporate finances worse, the company said.

  • Ambassador
  • Ukraine
  • OPINION POLLS
  • COVID-19
  • Trending Japan