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April 28, 2024
 

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BANKRUPTCY

Hiroshima Kanon Senior High School in the city of Hiroshima opened a cafeteria serving authentic Italian cuisine in December last year after Hoyu, which had been entrusted with cafeteria operations, went bankrupt in September.
JAPAN / Society
Apr 10, 2024
Business stability screenings urged for school lunch operators
The directive followed the abrupt suspension of meal services at schools across the country by Hoyu, a cooking service company.
A street in Ota Ward, Tokyo, on March 15. In the year through March, bankruptcies mainly rose among small and midsize companies.
BUSINESS / Economy
Apr 8, 2024
Japan's business failures top 9,000 for first time in nine years
In the year through March, bankruptcies mainly rose among small and midsize companies as they struggled to raise prices to reflect higher costs.
Analysts say further rate hikes by the Bank of Japan could prompt the downfall of "zombie" firms in the face of higher borrowing costs, but that the current labor shortage could help offset some of the adverse impacts of possible insolvencies.
BUSINESS / Companies
Mar 20, 2024
BOJ rate hike may spell end for Japan's unprofitable 'zombie' firms
The COVID-19 pandemic, in particular, pushed up the number of such firms that are barely surviving while struggling to cover debt-serving costs.
An Xturismo bike flies over Lake Yamanaka in Yamanashi Prefecture.
BUSINESS / Companies
Jan 17, 2024
Japanese flying bike startup A.L.I. Technologies files for bankruptcy
The Tokyo-based startup had aimed to play a key role in an expected “air mobility society.”
Corporate bankruptcies with liabilities of at least ¥10 million increased 35.2% in 2023 from the previous year.
BUSINESS
Jan 15, 2024
Business failures in Japan hit eight-year high in 2023
Failures rose in all 10 surveyed sectors for the first time in 31 years, due to rising prices, deepening labor shortages and the start of repayments of COVID relief loans.
Japan Finance Corp.'s branch in the Shinjuku district of Tokyo. Government-affiliated financial institutions provided a total of ¥21.87 trillion in special loans between January 2020 and March this year.
JAPAN / Politics
Nov 8, 2023
COVID loans worth ¥69.7 billion can't be repaid, report shows
The report by the Board of Audit of Japan also showed that the government wasted ¥58.02 billion of taxpayer money on 344 projects in fiscal 2022.
WeWork sought U.S. bankruptcy protection on Monday.
BUSINESS / Companies
Nov 7, 2023
SoftBank's WeWork, once most valuable U.S. startup, goes bankrupt
The company reported estimated assets and liabilities ranging from $10 billion to $50 billion, according to a bankruptcy filing.
BUSINESS
Aug 30, 2023
3M to pay $6 billion to settle military earplug lawsuits
The company will pay $5 billion in cash and $1 billion in 3M common stock under the terms of the agreement
The 3M global headquarters in Maplewood, Minnesota. The multinational conglomerate has tentatively agreed to pay more than $5.5 billion to resolve over 300,000 lawsuits claiming it sold the U.S. military defective combat earplugs.
BUSINESS / Companies
Aug 29, 2023
3M to pay more than $5.5 billion over faulty combat earplugs
Current and former service members allege 3M knew its earplugs were too short to work effectively and that it failed to warn the U.S. government or users.
China Evergrande has sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies undergoing restructurings from creditors that hope to sue them or tie up assets in the United States.
BUSINESS / Companies
Aug 18, 2023
China Evergrande files for protection in U.S. bankruptcy court
The company sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies that are undergoing restructuring.
Japan Times
BUSINESS / Economy
Jul 10, 2023
Corporate bankruptcies in Japan highest in five years in wake of COVID
The rise in failures involving liabilities exceeding ¥10 million comes as many companies have begun repaying interest-free and unsecured loans.
Japan Times
JAPAN / Politics
Jun 6, 2023
Japan OKs bills to digitalize divorce and bankruptcy procedures
The legislation will allow people to submit necessary applications online, instead of the current system of such documents being brought or mailed to courts.
Japan Times
BUSINESS
May 3, 2023
Japan sees 'zombie' firms rise 30% after zero-interest pandemic loan program
The number of corporate failures in fiscal 2020 dropped by nearly 20% from the previous year, and the number in fiscal 2021 hit the lowest level in 57 years, according to a research agency.
Japan Times
BUSINESS / Companies
Mar 28, 2023
Display maker JOLED, formed in Panasonic-Sony tie-up, seeks bankruptcy protection
Japan Display, a former shareholder of the company and a maker of liquid crystal displays, will take over the venture's technological development business.
Japan Times
BUSINESS / Markets
Dec 1, 2022
FTX’s Japan unit drafts plan to return client funds
The proposal, which has yet to be finalized, centers on using a platform called Liquid to facilitate the return of assets starting in January.
Japan Times
EDITORIALS
Nov 25, 2022
FTX collapse is a reminder of the simple reality of cryptocurrencies
One veteran of bankruptcies called the FTX collapse the worst he had ever seen — which included the $74 billion loss that followed the Enron debacle.
Japan Times
BUSINESS / Tech
Nov 21, 2022
What is next for the FTX fallout?
The dramatic collapse of the crypto exchange continues to reverberate throughout the industry.
Japan Times
BUSINESS / Tech
Nov 11, 2022
Elon Musk warns Twitter bankruptcy possible if cash burn lingers
The warning came amid a tumultuous start to Musk's reign at the social media company — a two-week period in which he has fired half of Twitter's staff.
Japan Times
BUSINESS / Companies
Nov 9, 2022
‘Grave of the Fireflies’ candy-maker goes bust as costs soar
The Tokyo-based company will end operations on Jan. 20, attributing the closure to rising raw material and energy prices as well as staff-hiring challenges.
Japan Times
BUSINESS / Economy
Oct 16, 2022
Corporate bankruptcies in Japan rise for first time in three years
Bankruptcies rose 6.9% in the April-September period from a year earlier to 3,141 as firms struggled with repaying government COVID-19 aid.
New JAL chief concerned about yen’s ‘excessive’ weakness
Mitsuko Tottori became Japan Airlines’ first female CEO on April 1, having risen through the ranks as a flight attendant and heading the flight attendant and customer experience divisions.
Town to block view of Mount Fuji in response to overtourism
The town government of Fujikawaguchiko, Yamanashi Prefecture, decided to set up a 2.5-meter-high screen to prevent tourists from taking pictures of Mount Fuji looming behind a convenience store.
Yen inches closer to intervention point as BOJ meeting starts
The rate of the yen against the U.S. dollar is displayed in the trading room at foreign exchange brokerage Gaitame.com in Tokyo on Thursday.
Princess Aiko makes debut at imperial garden party
Princess Aiko attends an imperial garden party in Tokyo on Tuesday.
'So hot you can't breathe': Extreme heat hits the Philippines
A pedestrian cools himself with a folding hand fan as he waits for a ride along a road in Manila on Wednesday, as extreme heat hit the Philippines.
Casa del Cibo: A thriving jewel born from Tohoku’s harsh past
When chef Ryohei Ikemi moved to Hachinohe, Aomori Prefecture, and opened Casa del Cibo in 2011, it was the first proper Italian restaurant in the city.
Tokyo's Koto Ward by-election a race unlike any other
Natsumi Sakai, the Constitutional Democratic Party of Japan’s candidate and one of four female candidates running in the by-election, touts her experience as a cancer survivor and midwife as having prepared her to tackle issues that women currently face.
Town to block view of Mount Fuji in response to overtourism
The town government of Fujikawaguchiko, Yamanashi Prefecture, decided to set up a 2.5-meter-high screen to prevent tourists from taking pictures of Mount Fuji looming behind a convenience store.
Top U.S. and China diplomats talk tough amid warnings of new ‘downward spiral’
U.S. Secretary of State Antony Blinken and China's Foreign Minister Wang Yi at the Diaoyutai State Guesthouse in Beijing on Friday
Kyotographie's strong 12th edition shines light into the margins
Yassine Alaoui Ismaili, who goes by Yoriyas, turned to photography, shooting motion while in motion himself, after an injury forced him to give up his career as a professional breakdancer.

Podcast

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[Rebroadcast] Japan is doing better on accessibility than you may think

Longform

Later this month, author Shogo Imamura will open Honmaru, a bookstore that allows other businesses to rent its shelves. It's part of a wave of ideas Japanese booksellers are trying to compete with online spaces.
The story isn't over for Japan's bookstores
By Alex K.T. Martin

SUSTAINABLE JAPAN

Vol. 34: Tokyo, a vanguard city for sustainability
Vol. 34: Tokyo, a vanguard city for sustainability

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