YUBARI, Hokkaido (Kyodo) The city of Yubari in central Hokkaido has a lot going for it: a ski area, campgrounds, hot springs, museums celebrating its history as a booming coal town. So it's hard to believe it is Japan's only bankrupt municipality.
But the empty downtown streets during the Bon summer holiday last week underscored Yubari's plight.
The graying city, famous for its melons and, more recently, an international film festival, is staggering under the weight of ¥32.2 billion in debts that must be repaid by fiscal 2024. The deficits ballooned as Yubari's efforts to turn itself into a major tourist spot failed.