Japan’s Business Failures in March 2024
(Released by TEIKOKU DATABANK, LTD.)
870 bankruptcies, the most in 10 years
Number of bankruptcies exceeded that of the same month of the previous year for 23rd consecutive month
| Bankruptcies |
870 |
| Year-to-Year basis |
+8.7％ |
| Last Year same month |
800 |
| Liabilities |
132,005 million yen |
| Year-to-Year basis |
▲8.0％ |
| Last Year same month |
143,514 million yen |
Highlight and Outstanding Feature
- ■There were 870 bankruptcies (800 bankruptcies in the same month of the previous year, up 8.7% year-on-year), marking 23rd consecutive months of year-on-year increase. Higher than the previous record in 10 years in April 2014 (858 bankruptcies).
- ■The total amount of liabilities came to 132,005 million yen (143,514 million yen in the same month of the previous year, down 8.0%), and although this figure exceeded 100 billion yen for the second consecutive month, it was below the same month of the previous year for the first time in four months. The highest amount of liabilities was 19,194 million yen for Tech Corporation, which was planning a sanitary management system product.
- ■By industry, the number of bankruptcies increased year-on-year in five of seven industries. In particular, the construction industry (to 175 bankruptcies from 155 in the same month of the previous year, up 12.9%) saw the highest level since July 2014 (184 bankruptcies). The number of bankruptcies in the service industry (to 202 from 197, up 2.5%) exceeded 200 in March for the first time in 13 years since 2010 (206).
- ■In terms of primary cause, “recession-induced bankruptcies” numbered 699, marking the twenty-third consecutive month of year-on-year increase.
- ■By type, there were 23 cases of “special liquidation,” surpassing the same month of the previous year for the fourth consecutive month.
- ■By size of liabilities, bankruptcies of companies with liabilities of “less than 50 million yen” was the most common (520 cases). Capital of “individual + less than 10 million yen” (624 cases) accounted for 70% of the total.
- ■By business history, the number of bankruptcies of companies that had a business history of 30 years or more was the highest. Bankruptcies of “start-up companies” surpassed those of the same month of the previous year for 25 consecutive months.
- ■By region, six of nine regions experienced year-on-year increases. Among them, bankruptcies in Shikoku (to 23 from 12, up 91.7% year-on-year) exceeded 20 for the first time in three years and nine months. The number of bankruptcies in Tohoku (to 53 from 40, up 32.5%) exceeded 50 for the second consecutive month.
Bankruptcy Information TOP