According to a Teikoku Databank survey, 500 companies have declared bankruptcy in Japan due to the impact of the COVID-19 pandemic, as of September 8. The number has ballooned in the fewer than 200 days since the first COVID-19-related bankruptcy, a Hokkaidō-based food manufacturer, on February 26. The combined liabilities of the bankruptcies amounted to almost ¥254 billion (for 498 of the companies, with 2 still under investigation). Three were businesses valued at over ¥10 billion (amounting to 0.6% of the above total), while another 411 were valued at less than ¥500 million each (82.5% of the total), … (full story)
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