Local News

The Kyushu branch of credit rating agency Tokyo Shohko Research released its monthly report on bankruptcies with at least 10 million yen liabilities in Kyushu and Yamaguchi Prefecture in August. The report showed that the aggregate liabilities for the month totaled roughly 108.4 billion yen. This is 3.3 times higher than the year-before period, and the largest amount in the past five years. There was also a 9.8% rise in the number of companies closing their doors. The reason for the increase in liabilities was due to the bankruptcy filings of a large construction company, condominium management company, and bookstore chain.