Major construction company Aoki Corp. filed for court protection Thursday, unable to seek further aid from its creditors. The collapse is a foretaste of more to come, as banks hurry to clear their books of bad debts.

Just 2 1/2 years ago, Aoki’s 26 creditors agreed to waive 204.9 billion yen in liabilities. In return, they received a restructuring plan that would get the contractor back on its feet over a 20-year period.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.