Corporate Bankruptcies in Japan Hit 11-Year High

Tokyo Shoko Research said bankruptcy filings in Japan reached 10,144 in fiscal 2024, the highest number in 11 years, amid growing doubts about the Bank of Japan’s interest rate hike schedule.

According to data from Tokyo Research, the number of bankruptcies in the 12 months ending in March was the highest since 10,536 in fiscal 2013 and grew 12% from a year earlier. The data showed that most industries, excluding finance and transportation, saw more bankruptcies than the previous year.

However, the total amount of debt in bankruptcies reached 2.37 trillion yen ($16.08 billion) in fiscal 2024, down from 2.46 trillion yen in fiscal 2023, as relatively more small and medium-sized companies went bankrupt.