Bankruptcies Top 10,000 in Japan

TOKYO, Apr 08 (News On Japan) - Corporate bankruptcies in Japan exceeded 10,000 in fiscal 2024 for the first time in 11 years, driven by inflation and labor shortages, according to Teikoku Databank.

The number of bankruptcies for the year through March reached 10,070, marking a significant increase and the first time the figure has surpassed 10,000 since fiscal 2013. Total liabilities have topped 2 trillion yen for the third consecutive year.

Among the causes, bankruptcies attributed to rising prices grew by 10% from the previous year, hitting a record high of 925 cases. Many companies, particularly in construction and manufacturing, were unable to pass on rising costs such as raw materials and labor to customers, leading to insolvency.

Teikoku Databank warned that multiple factors—including U.S. tariff policies under Donald Trump, concerns over a slowdown in the U.S. economy, and rising borrowing costs due to potential additional rate hikes by the Bank of Japan—could keep bankruptcy risks for small and micro enterprises at elevated levels.

Source: TBS

Japanese Woman Witnesses Crisis in Gaza

A Japanese woman working with Doctors Without Borders has delivered a harrowing account from Gaza, where severe food shortages and relentless Israeli airstrikes have pushed local hospitals and residents to the brink of collapse.

Hakodate Fishermen Brace for Another Poor Squid Season

The squid fishing season officially opened on June 1st in Hakodate, where 11 boats set out from the port despite recent years of severely depleted catches and early reports from Aomori, which began fishing in May, already indicating another poor haul.

Japan’s Healthcare in Crisis, Doctors Overworked as Research Time Dwindles

Amid mounting financial strain and work reform policies, Japan’s university hospitals are struggling to maintain the quality of their medical research, threatening the future of healthcare in the country. A recent survey of approximately 3,000 physicians working in university hospitals revealed that 60% spend less than five hours a week on research, with 22% reporting zero research time. The main reason: they are simply too busy with clinical duties to conduct research.

Former Princess Mako Komuro Has First Child in U.S.

Mako Komuro, the eldest daughter of the Akishino family and now living in the United States, has given birth to her first child, the Imperial Household Agency announced on May 30th. The agency stated that the birth was disclosed during a press conference after some media reports surfaced, despite their intention to allow Komuro to live in a quiet environment following her departure from the Imperial family.

Akie Abe Moved to Tears During Kremlin Visit with Putin

Akie Abe, widow of former Prime Minister Shinzo Abe, visited the Kremlin on May 29th and met with Russian President Vladimir Putin. During the meeting, Akie was seen tearfully listening to Putin’s words, reflecting the emotional nature of their exchange. Following the conversation, she was invited to ride in Putin’s official limousine to the Bolshoi Theatre, where the two attended a ballet performance together.

MEDIA CHANNELS

MORE Business NEWS

YOSHIKI to Launch Wine Production in Yoichi Under His Own Brand

YOSHIKI, leader of the rock band X Japan, announced on May 30th that he will begin producing wine in Yoichi, Hokkaido, using locally grown grapes under his “Y by YOSHIKI” brand.

Nippon Steel to Slash Carbon Emissions with New 630 Billion Yen Furnace

Nippon Steel, which operates major steelworks in Kitakyushu, announced on May 30th a new investment plan to introduce an electric arc furnace that uses electricity instead of coal to produce steel.

Trump Doubles Tariffs While Calling Nippon Steel’s $14 Billion US Deal Historic

U.S. President Donald Trump announced on May 30th that his administration plans to double the current tariffs on imported steel and aluminum to 50 percent. Speaking at a plant owned by major American steelmaker U.S. Steel, Trump declared that the existing 25 percent tariff on steel imports would be raised to 50 percent starting June 4th. The same rate will also apply to aluminum products, with the measure expected to affect exporters globally.

Fourth Round of Japan-US Tariff Talks Ends with Progress Toward Agreement

Japan and the United States held their fourth ministerial-level talks on tariffs on May 30th, with Economic Revitalization Minister Akazawa stating that "progress toward an agreement was confirmed" during the meeting.

JR East Group Faces Fraud Accusations Over Fake Staff

JR East Japan's group company has come under suspicion for overcharging labor costs in a government-commissioned project, claiming 65 people were working on a project while on 3 were involved.

SoftBank Startup Aims to Revolutionize AI Chips

SoftBank has teamed up with Intel and the University of Tokyo to establish a new semiconductor memory development company in Japan focused on artificial intelligence applications. Named SAIMEMORY, the new firm aims to develop cutting-edge memory chips with enhanced performance and lower energy consumption.

Yokohama Bank Pushes for Stronger Local Identity

Concordia Financial Group, which will change its name to Yokohama Financial Group in October, is seeking to reinforce its identity as a strong regional bank group centered on Yokohama Bank. President Tatsuya Kataoka, who also serves as head of Yokohama Bank, discussed the strategy behind the rebranding, the group's structural reforms, and its ambitions for stronger financial performance during a joint interview with Nikkei Financial.

Business recycling boosts environmental gains across continents

In a time when environmental concerns are reaching a critical point, businesses across the world, but mainly in Europe and the Middle East are ramping up their recycling efforts, an increasingly powerful driver of both ecological protection and economic opportunity.

< 2 3 4 5 >