Japan business failures exceed 10,000 in 2024, marking the highest rate in 11 years.

Corporate bankruptcies in Japan rose 15.1% in 2023, surpassing 10,000 for the first time in 11 years.

Last year, corporate bankruptcies in Japan with liabilities over ¥10 million soared by 15.1% to a staggering 10,006, crossing the 10,000 mark for the first time in 11 years, according to Tokyo Shoko Research. Rising prices due to a weak yen and major labor shortages have led to failures across multiple industries, marking the third straight year of hikes.

Despite this, the total liabilities from failed companies dropped 2.4% to ¥2.3 trillion, with only one major bankruptcy involving MSJ Asset Management at ¥641.3 billion. The services sector saw the highest failures at 3,329, up 13.2% from 2023, while labor shortages contributed to an 80% spike in bankruptcies to 289. Experts warn that if inflation and labor issues continue, we could see even more bankruptcies in 2025.

Read more__〆(￣ー￣ )

Fascinated by Japan’s culture and history? Learn the language that brings it all to life. Start now at LearnJapanese.com!

Government creating AI system to find vacant houses.

Japan's infrastructure ministry is using AI to identify vacant houses by analyzing local government data like water usage and resident records.

Man in Japan fired for skipping work 633 times to go to the gym.

Kazushi Kono was fired for skipping work 633 times to exercise at the gym during his shifts over three years.

Can aging Japan embrace digitalization inclusively?

A 76-year-old instructor teaches 17 seniors in Tokyo how to use smartphones in a hands-on session for beginners.

Tokyo assisting teachers with student loan repayment.

Tokyo will support student loan repayment for new teachers and civil servants by covering up to ¥1.5 million to address shortages.