Local News

The Fukuoka branch of Tokyo Shokoh Research released its report on bankruptcies in Kyushu and Okinawa Prefecture in FY 2009 with liabilities of at least 10 million yen. A total of 1,050 enterprises shut their doors, a 26.8% drop from the previous year, and the first decline in four years. It was also the lowest level of bankruptcies since 1973. This was attributed to the emergency policy of allowing companies to suspend loan payments, and the acceleration of public works projects. With deflation and high unemployment persisting, however, the company said that this will only be temporary without an improvement in the economic climate.