Japan’s Business Failures in November 2024
(Released by TEIKOKU DATABANK, LTD.)
Cumulative total for 2024 reached highest level since 2015 as of November
Number of bankruptcies reaches 834, exceeding that of the same month of the previous year for 31 consecutive months
| Bankruptcies |
834 |
| Year-to-Year basis |
+7.9％ |
| Last Year same month |
773 |
| Liabilities |
152,244 million yen |
| Year-to-Year basis |
+72.7％ |
| Last Year same month |
88,150 million yen |
Highlight and Outstanding Feature
- ■There were 834 bankruptcies (773 bankruptcies in the same month of the previous year, up 7.9% year-on-year), marking the thirty-first consecutive month of year-on-year increase. For November, the number exceeded 800 for the first time since 2013 (820). The cumulative number of bankruptcies from January to November 2024 was 9,053, the highest annual number since 2015, with the one month of December still remaining.
- ■The total amount of liabilities came to 152,244 million yen (88,150 million yen in the same month of the previous year, up 72.7%), marking the first year-on-year increase in four months. Nippon Denkai, Ltd., a company listed on the Growth market of the Tokyo Stock Exchange that manufactures electrolytic copper foils, had the largest debt at 14,761 million yen. Two bankruptcies exceeding 10,000 million yen pushed up the total amount of debt.
- ■By industry, the number of bankruptcies increased year-on-year in four of seven industries. The service industry (to 221 bankruptcies from 196 in the same month of the previous year, up 12.8%) saw the most bankruptcies, surpassing the same month of the previous year for 33 consecutive months. As a result of soaring material prices and labor costs, the construction industry saw a large increase in bankruptcies of companies building equipment work (to 43 from 26 a year earlier).
- ■By region, eight of nine regions experienced year-on-year increases. The region with the most bankruptcies was Kanto (to 282 from 279 in the same period last year, up 1.1%). The largest rate of increase was in Hokuriku (to 38 bankruptcies from 19 in the same month of the previous year, up 100.0%), double the figure of the same month last year. The cumulative total from January to November 2024 has already exceeded the total full-year figure for 2023 in 33 prefectures.
- ■There were 55 “bankruptcies after zero-zero (COVID-19-related) loans,” and the cumulative total from January to November was 682, the highest number ever.
- ■There were 24 “bankruptcies due to labor shortages,” with the number of cases in one year exceeding 300 for the first time, and posting the highest number ever.
- ■There were 46 bankruptcies caused by “difficulty in finding a successor,” and the full-year number exceeded 500 for the second consecutive year.
Bankruptcy Information TOP