Agura Bokujo, a cattle farm business with operations nationwide, has filed for bankruptcy protection, blaming the crisis at the leaking Fukushima No. 1 nuclear power plant, which it says prompted a rise in canceled contracts after radioactive elements were detected in beef, a company executive said Wednesday.
The Tokyo District Court ordered the protection of the Tochigi Prefecture-based firm's assets Tuesday under the civil rehabilitation law. It had ¥61.99 billion in debts as of the end of March.
Agura Bokujo, established in 1979, runs some 370 farms, mostly through franchising, where a combined 145,000 cattle are raised. It solicits investments in cattle breeding and buys calves from cattle owners.