Japan’s Business Failures in March 2020
(Released by TEIKOKU DATABANK, LTD.)
There were 744 bankruptcies, marking the seventh consecutive month of year-on-year increase.
Liabilities totaled 89,019 million yen, the first year-on-year increase in three months.
| Bankruptcies |
744 |
| Year-to-Year basis |
+14.3% |
| Last Year same month |
651 |
| Liabilities |
89,019 million yen |
| Year-to-Year basis |
+15.7% |
| Last Year same month |
76,927 million yen |
Highlight and Outstanding Feature
- ■There were 744 bankruptcies (up 14.3% year-on-year), marking the seventh consecutive month of year-on-year increase.
- ■Total liabilities came to 89,019 million yen (up 15.7% year-on-year), exceeding the same month of the previous year for the first time in three months. However, this was the second-lowest level for March after the previous year (March 2019, 76,927 million yen).
- ■By industry, the number of bankruptcies increased year-on-year in five of seven industries. Among them, in the construction industry (134 bankruptcies, up 25.2% year-on-year) profits deteriorated due to soaring material prices and an increase in labor outsourcing costs. The number of bankruptcies went up year-on-year for the seventh consecutive month. In the retail industry (161 bankruptcies, up 15.0% year-on-year), the number of bankruptcies of restaurants (76 bankruptcies) marked a year-on-year increase of 33.3%.
- ■In terms of primary cause, recession-induced bankruptcies numbered 600 (up 17.2% year-on-year), comprising 80.6% of the total.
- ■In terms of scale, bankruptcies totaling less than 50 million yen numbered 470 (up 20.8% year-on-year) and comprised 63.2% of the total.
- ■By region, eight of nine regions experienced year-on-year increases. Among them, Tohoku (47 bankruptcies, up 34.3% year-on-year) saw the largest number for March in the past 10 years since March 2011. In Kanto (268 bankruptcies, up 14.0% year-on-year), the number of bankruptcies in the construction industry (50 bankruptcies, up 28.2% year-on-year) marked the seventh consecutive month of year-on-year increase.
- ■The largest amount of liabilities was posted by City Hill Co., Ltd. , (Osaka, Civil Rehabilitation Act) with liabilities of approximately 4,996 million yen./li>
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