HYOGO –
Tada Shrine in Kawanishi, Hyogo Prefecture, has filed for protection under Japan’s Civil Rehabilitation Act, becoming the first shrine in the Kansai region and only the third nationwide to enter bankruptcy proceedings, according to Teikoku Databank.
Financial problems surrounding the shrine began to surface around 2023. The following year, real estate pledged as collateral was seized following a court decision to begin auction proceedings.
The shrine challenged the action by filing objections and taking other steps, but concluded that an early resolution would be difficult and decided to seek rehabilitation under court supervision.
The total amount of its…