Company bankruptcies in Japan rise in April-September: survey
TOKYO, Oct. 16– A total of 3,141 companies went bankrupt in the April-September period, up 6.9 percent year on year, a local credit research company has reported. Regionally, 29 prefectures including Hokkaido and Kyoto, saw bankruptcy cases growing during the period. Meanwhile, Osaka, Hiroshima, and other 14 prefectures saw the bankruptcy number decrease.
TOKYO, Oct. 16 (Xinhua) — A total of 3,141 companies went bankrupt in the April-September period, up 6.9 percent year on year, a local credit research company has reported.
It marked the first increase in corporate bankruptcies in three years, according to a survey conducted by Tokyo Shoko Research Ltd.
The firm said many companies experienced difficulties in repaying financial aid they had received from the government in response to the COVID-19 pandemic.
Regionally, 29 prefectures including Hokkaido and Kyoto, saw bankruptcy cases growing during the period. Meanwhile, Osaka, Hiroshima, and other 14 prefectures saw the bankruptcy number decrease.
The service industry saw a total of 215 bankruptcy cases, the highest among different industries and up for the eighth straight month, while the construction industry saw the fastest growth in the number of bankruptcy cases, which was up by 29.8 percent from a year earlier.
Due to high fuel prices, the transport sector saw a total of 162 bankruptcy cases, up 42.1 percent, while the real estate sector logged fewer cases, marking the smallest number in 30 years.
The research company said it is also seeing rising cases since August of bankruptcies caused by high raw material prices due to the weakening of the yen against the U.S. dollar and other major currencies. Enditem
ANA NEWS WIRE Disclaimer:
The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality.
ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.
The ANA platform also contains news and information from third party sources. ANA has sought to procure reliable content from trusted news sources but cannot be held responsible for the accuracy and opinions provided by such sources on the ANA platform or linked sites.
The content provided for on the ANA News Wire platform, both through the ANA news operation and via its third party sources, are for the sole use of authorised subscribers and partners. Unauthorised access to and usage of ANA content will be subject to legal steps. ANA reserves its rights in this regard.
ANA makes every effort to ensure that the website is up and running smoothly at all times, however ANA does not take responsibility for, and will not be held liable for times when the website is temporarily unavailable due to technical issues that are beyond our control.