Bankruptcies in October increased for the 7th consecutive month, adding to high prices in the midst of the corona crisis.

Tokyo Shoko Research announced on the 9th that the number of bankruptcies of national companies in October (with liabilities of 10 million yen or more) increased by 13.5% compared to the same month last year, reaching 596 cases, marking the 7th consecutive month of growth. Cases of bankruptcy due to the slow recovery of performance from the COVID-19 pandemic have increased. High prices due to the Russia-Ukraine conflict have added to the pressure.
Bankruptcies related to coronavirus increased by 42.8% to 230 cases, marking the highest monthly total for the 2nd consecutive month. The total liabilities decreased by 11.6% to 86.995 billion yen. The decrease in large-scale bankruptcies of over 1 billion yen has pushed the total amount down.
By industry, the number of bankruptcies in food and beverage manufacturing increased significantly, reaching approximately 3.6 times that of 25 cases, and in food and beverage retail trade, approximately 2.4 times that of 31 cases.

Author: Kyodo News

Last updated: 11/9 (Wed) 15:59