Rise in Corporate Bankruptcies in Japan Continues
Click to start listening
Tokyo, Dec 10 (NationPress) The count of corporate bankruptcies in Japan hit 834 cases in November, marking a 7.9 percent increase from the same month last year, according to data provided by research firm Teikoku Databank.
This indicates the 31st consecutive month of year-on-year growth and represents the highest total for November since 2013, when there were 820 cases reported, as stated by Xinhua news agency.
From January to November 2024, the aggregate number of bankruptcies reached 9,053, making it the highest annual total since 2015, with December figures yet to be included.
The overall liabilities reached 152.244 billion yen (approximately $1 billion), showing a significant 72.7 percent increase from 88.15 billion yen in November 2023.
The most substantial single bankruptcy was that of Nippon Denkai Co., a manufacturer of electrolytic copper foil listed on the Tokyo Stock Exchange Growth, which reported liabilities of 14.761 billion yen. Additionally, two bankruptcies exceeding 10 billion yen had a notable impact on the total liabilities.
This rising trend is indicative of the difficult economic conditions and increasing pressures faced by businesses across diverse sectors.
