Corporate bankruptcies up 4.9% in January

Jiji Press TOKYO (Jiji Press) — The number of corporate bankruptcies in Japan grew 4.9 percent from a year before to 666 in January, up for the first time in two months, Tokyo Shoko Research Ltd. said Friday.

Bankruptcies increased mainly in the services, construction and retail sectors, which face labor shortages.

The survey covered failures involving liabilities of ¥10 million or more.

“Manpower shortages are posing a risk to companies,” an official of the private credit research agency said, adding, “Business failures are highly likely to increase at a moderate pace, mainly among small and midsize firms.”

Total liabilities left by failed companies in January jumped 61.0 percent to ¥168,374 million, due to two bankruptcy cases with debts of over ¥10 billion. One of the two involved liabilities of ¥45 billion and the other ¥23.2 billion.Speech

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