1 min read

Link: Japan corporate bankruptcies surge above 1,000 in May

The number of corporate bankruptcies in Japan surged 42.9% from a year earlier to 1,009 in May, credit research firm Tokyo Shoko Research said on Monday. The monthly number exceeded 1,000 for the first time since July 2013, when it reflected the impact of the end of funding support measures for small businesses introduced after the 2008 global financial crisis. The latest result came as many companies struggle with rising prices, as well as labor shortages mainly in the service sector. The data covered bankruptcies involving liabilities of ¥10 million ($65,581) or more. Total liabilities left by failed companies dropped 50.9% to ¥137 billion, after the year-before figure was boosted by the collapse of a large company. The number of bankruptcies linked to rising prices climbed 47.4% to 87, mostly in the manufacturing and transport industries, which have many subcontractors. Many small businesses are finding it difficult to pass on higher costs in prices. #


Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.