Local News

Regional Bankruptcies Already Exceed Last Year’s Totals

The Fukuoka branch of Tokyo Shokoh Research revealed that its survey of corporate bankruptcies with liabilities of 10 million yen or more in Kyushu and Okinawa Prefecture by the end of November in the current calendar year already exceeds the total for 2007. A total of 1,355 enterprises have gone out of business so far this year, 52 more than last year. The total for 2008 will likely exceed 1,400 for the first time since 2003, a five-year period. The aggregate liabilities for these bankruptcies will be greater than 500 billion yen, the first time that has happened in three years.

Published: Dec 11, 2008 / Last Updated: Dec 11, 2008

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