Japan's corporate bankruptcies up 35 pct in 2023

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Japan's corporate bankruptcies up 35 pct in 2023

STORY: Japan's corporate bankruptcies up 35 pct in 2023 SHOOTING TIME: Earlier footage DATELINE: Jan. 17, 2024 LENGTH: 0:01:31 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of cities in Japan STORYLINE: The number of company bankruptcies in Japan increased by 35 percent in 2023 compared to the previous year due to rising prices and labor costs, a local credit research company has reported. According to a survey conducted by Tokyo Shoko Research Ltd., the number of bankrupt companies in Japan with debts exceeding 10 million yen (about 68,189 U.S. dollars) reached 8,690 in 2023. The total debt of bankrupt companies exceeded 24.026 trillion yen. Small and medium-sized enterprises with fewer employees constitute the majority of bankruptcies, according to the report, noting that the number of companies with debts below 100 million yen accounted for 74.7 percent of the total number of bankruptcies. Companies with debts exceeding 1 billion yen increased by 24 percent compared to the previous

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