Coronavirus bankruptcies total 400 in Japan

Aug 04, 2020 | News On Japan

Aug 04, 2020 (NHK) - A survey by credit research firm Teikoku Databank shows 400 businesses in Japan have gone under due to the effects of the coronavirus pandemic.

The total includes companies nationwide that had gone bankrupt or halted business and begun bankruptcy procedures as of 11 a.m. on Monday.

The dining industry, including pubs and restaurants, accounted for 54 cases. Hotels or Japanese-style inns had 48 failures. The apparel and food wholesale industries had 25 each.

By prefecture, Tokyo topped the list with 95 failures, followed by Osaka with 41, and Hokkaido with 23.

The research firm says it is concerned that the dining industry will experience further dire conditions as the Tokyo Metropolitan Government has called on pubs and restaurants that serve liquor to curtail their business hours.

It also points out the need to monitor whether other sectors report more bankruptcies, including manufacturers.

Source: ANNnewsCH

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