Japan’s Business Failures in October 2020
(Released by TEIKOKU DATABANK, LTD.)
There were 647 bankruptcies, marking the third consecutive month of year-on-year decrease.
Liabilities totaled 66,948 million yen, marking the lowest value for October since 2000.
| Bankruptcies |
647 |
| Year-to-Year basis |
▲17.6% |
| Last Year same month |
785 |
| Liabilities |
66,948 million yen |
| Year-to-Year basis |
▲26.5% |
| Last Year same month |
91,079 million yen |
Highlight and Outstanding Feature
- ■There were 647 bankruptcies (down 17.6% year-on-year), marking the third consecutive month of year-on-year decrease.
- ■Liabilities totaled 66,948 million yen (down 26.5% year-on-year), marking the third consecutive month of year-on-year decrease. For October, this was the lowest figure since the comparable year of 2000.
- ■The largest amount of liabilities was posted by Shinei Transport Co., Ltd. (Kanagawa, Civil Rehabilitation Act), with liabilities of approximately 2,827 million yen.
- ■By industry, the number of bankruptcies decreased year-on-year in six of seven industries. In the manufacturing industry (63 bankruptcies), bankruptcies were down 43.2% year-on-year. The retail industry (164 bankruptcies, down 15.9% year-on-year) marked a decrease for the fourth consecutive month. In particular, bankruptcies of food and beverage retailers (20 bankruptcies) decreased by double digits for the fourth consecutive month due to rising demand for eating at home and ready-to-eat meals.
- ■In terms of primary cause, recession-induced bankruptcies numbered 499, (down 22.5% year-on-year), comprising 77.1% of the total.
- ■In terms of scale, bankruptcies totaling less than 50 million yen numbered 430 (down 16.0% year-on-year) and comprised 66.5% of the total.
- ■By region, eight of nine regions experienced year-on-year decreases. In Tohoku (31 bankruptcies), bankruptcies of companies in the wholesale industry decreased for the sixth consecutive month, and in the region as a whole they fell 31.1% year-on-year. In Kinki (173 bankruptcies, down 17.6% year-on-year), bankruptcies fell in six industries. Osaka saw bankruptcies fall for the third consecutive month.
- ■There were 9 bankruptcies caused by a labor shortage (down 40.0% year-on-year), marking the second consecutive month of year-on-year decrease.
- ■There were 28 bankruptcies caused by a difficulty in finding a successor (down 24.3% year-on-year), marking the first year-on-year decrease in two months.
- ■There were 41 post-moratorium bankruptcies (down 6.8% year-on-year), marking the second consecutive month of year-on-year decrease.
Bankruptcy Information TOP