Japan’s Business Failures in January 2023
(Released by TEIKOKU DATABANK, LTD.)
“Wage Hike” Bankruptcies May Appear from Now
Bankruptcies up for Ninth Straight Month, Reaching Highest Level since 2008
There were 546 bankruptcies, marking the ninth consecutive month of year-on-year increase.
Total liabilities were 50,769 million yen, at the 50,000 million yen level for the first time in 33 years since January 1990.
|Last Year same month
||50,769 million yen
|Last Year same month
||67,970 million yen
Highlight and Outstanding Feature
- ■There were 546 bankruptcies (482 bankruptcies in the same month of the previous year, up 13.3% year-on-year), marking the ninth consecutive month of year-on-year increase. Although the number remained low at the 500 level, it increased for January for the first time in 3 years compared with the same month of the previous year.
- ■The total amount of liabilities came to 50,769 million yen (67,970 million yen in the same month of the previous year, down 25.3%), down from the same month of the previous year for the second consecutive month. They were at the 50,000 million yen level for the first time in 33 years since January 1990.
- ■By industry, the number of bankruptcies increased year-on-year in four of seven industries. The number of bankruptcies in the service industry (to 143 from 120 in the same month last year, up 19.2%) increased for 11 consecutive months from the same month of the previous year, and this consecutive period of increase was the longest in thirteen years and five months since August 2009. In the retail and manufacturing industries, bankruptcies of companies related to food continued to rise.
- ■Looking at the form of business failure, there were 508 bankruptcies. This was double-digit growth for 5 consecutive months for the first time in about 14 years.
- ■By size, the number of bankruptcies of small and medium-sized enterprises increased. On the other hand, the number of bankruptcies of companies with liabilities of 10,000 million yen or more was zero for the first time in eight months.
- ■By business history, there were 166 bankruptcies of new companies with less than 10 years of business, with this category continuing to see a significant increase for sixth consecutive months.
- ■By region, six of nine regions experienced year-on-year increases. Increases were noticeable mainly in Kinki (to 154 bankruptcies from 123 in the same month last year, up 25.2%) and Chubu (to 84 from 50, up 68.0%).
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