The weak yen and higher costs as well as the end of the financial assistance during COVID-19 pandemic are blamed for the high number of corporate bankruptcies in Japan, which rose by 42.9 percent year on year to 1,009 in May.
The number surpassed 1,000 for the first time for a month in more than a decade since July 2013, Tokyo Shoko Research Ltd., a private credit research firm, announced on June 10.
Bankruptcies increased year on year across all industries specifically due to high prices following the COVID-19 pandemic.
The number of bankruptcies increased in May for the 26th consecutive month, and the total debt of companies that went bankrupt in May totaled 136.7 billion yen ($870…
