TOKYO —

The number of corporate bankruptcies in Japan in August climbed 4.2% from a year earlier to 1,254, the third consecutive monthly increase, partly because the transportation sector was hit badly by higher gasoline prices, a private credit research agency said Monday.
   
The failed firms’ total debts, at 867.98 billion yen, marked a dip of 0.3% from a year earlier but was the highest this year with bankruptcies accompanied by debts of more than 10 billion yen reaching the highest number for this year at 12, Tokyo Shoko Research said. Of 10 industrial sectors surveyed, five sectors—transportation, real estate, services, information and telecommunications, and construction—saw higher numbers of corporate failures. Bankruptcies among transportation firms climbed 64.1% from a year earlier to 64, exceeding 60 for the first time in five years and two months.
 

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2 Comments

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  kaminarikeizai at 11:18 AM JST - 9th September

  Number of Japanese Corporate failures will be increased in current fiscal year.

  A small country’s vegetable shopkeeper is more efficient than any Japanese giant (sleeping elephant) company in the world. This small shopkeeper works hard without saying “gambarimasu (I will work hard)” and Japanese always chants “gambarimasu(I will work hard)”.

  At present Samsung is sharing global market of LCD TV 20.0%, while Sony sharing only 12.1%. ;-)

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  barfly08 at 01:21 PM JST - 9th September

  "the third consecutive monthly increase, partly because the transportation sector was hit badly by higher gasoline prices"

  Of the five sectors mentioned "transportation, real estate, services, information and telecommunications, and construction" only "transportation" should be adversely affected by higher gas prices ! Seems to me the problem really lies in the "housing" sector. When people don't buy new homes it affects the whole economy. Other countries learned years ago that new houses need to be filled with junk. It's the "junk" that runs the economy.

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