Bankruptcy Boom

In May, corporate bankruptcies in Japan surged 42.9% from a year earlier to 1,009, the highest since July 2013. Many companies struggle with rising prices and labor shortages, especially in the service sector. Bankruptcies involving liabilities of ¥10 million ($65,581) or more were included, with total liabilities dropping 50.9% to ¥137 billion. 📉💼

Tokyo Shoko Research warned that inflation-linked bankruptcies could rise further as companies struggle to pass on higher costs amid the yen's weakness against the dollar.

How can small businesses better cope with rising costs and labor issues? 🤔

Source: The Japan Times
🔗 Read the full article here.

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