Local News

The Fukuoka Branch of Tokyo Shokoh Research revealed that bankruptcies of companies in Kyushu and Okinawa Prefecture with at least 10 million yen in liabilities for 2011 rose for the first time in three years. A total of 892 firms closed their doors during the year, a year-on-year increase of 4.0%. The aggregate amount of liabilities was 213.3 billion yen, a 24% increase. About 60% of the bankruptcies involved companies with liabilities of less than 100 million yen, and only four were for more than five billion yen.