Bankruptcies in Japan rise for 19th month

(Xinhua) 13:13, December 18, 2023

TOKYO, Dec. 17 (Xinhua) -- Corporate bankruptcies in Japan rose in November for the 19th consecutive month, according to a recent survey by a credit research company.

A total of 773 Japanese companies began legal liquidation proceedings in November, marking the second consecutive month of year-on-year growth of at least 30 percent, Japan's Teikoku Databank said in its latest online report.

The total number of bankruptcies from January to November came to 7,691, it said.

By industry, the number of bankruptcies increased year-on-year in six of seven industries. The service industry had the largest number with 196, followed by retail with 170 and construction with 141, the data showed.

The bankruptcies came as interest-free loans taken out for pandemic relief started to come due for many firms and the deferment period for the social welfare premium has also ended.

Very good!（2574）