Business / Economy May 29, 2020
Japan bankruptcies seen rising to seven-year high amid pandemic
by Ayai Tomisawa
A global economic slowdown triggered by the COVID-19 pandemic is causing companies to go out of business around the world.
Business / Corporate May 16, 2020
Japan apparel firm Renown files for bankruptcy as virus hit sales
Japanese apparel maker Renown Inc. said Friday it filed for bankruptcy protection after the coronavirus pandemic hit sales sharply in recent months. Founded in 1902, Renown filed for protection from creditors with the Tokyo District Court under the civil rehabilitation law. It was the first ...
Business / Economy May 14, 2020
Wave of COVID-19 bankruptcies poses next threat to U.S. economy
Larger companies have generally survived the initial blow from the coronavirus crisis, but still face existential challenges to get through what will probably be a long and grinding recovery. Since COVID-19 shuttered much of the global economy, airlines, major retail chains, oil companies and other ...
Business / Economy May 11, 2020
‘Hidden’ defaults set to soar as recession squeezes firms worldwide
by Denise Wee
The COVID-19 outbreak and unprecedented lockdowns prompted the International Monetary Fund to predict that the recession would be the steepest in almost a century.
Business May 5, 2020
As of Friday, the number of bankruptcies linked to the spread of the virus totaled 114, according to the survey conducted by Tokyo Shoko Research.
Business / Corporate Apr 10, 2020
Japan's bankruptcy tally at 51 as pandemic destroys commerce
The coronavirus crisis has triggered 51 bankruptcies so far, Tokyo Shoko Research Ltd. said Friday. The survey by the credit research company covers COVID-19 related failures that left liabilities of ¥10 million or more in Japan. The 51 failures took place in 28 prefectures, with seven ...
Business / Corporate Mar 31, 2020
Japan's business world calls for bold steps to prevent bankruptcies
Japan's two biggest business associations are calling on the government to take bold measures to prevent companies hit hard by the coronavirus outbreak from going bankrupt. They want the government, which is considering compiling a stimulus package to deal with the economic impact of the ...
Business / Corporate Mar 30, 2020
SoftBank shares tumble 10% after OneWeb files for bankruptcy
by Pavel Alpeyev
SoftBank Group Corp. fell as much as 10 percent after a provider of satellite-based internet service that it invested in filed for bankruptcy, ceding some gains from an unprecedented plan to sell assets and buy back shares. OneWeb made the filing late Friday U.S. time ...
Business / Corporate Mar 2, 2020
Japan's Luminous Cruising blames coronavirus as it files for bankruptcy
by Reiji Yoshida
A cruise ship company in Kobe was effectively bankrupted by the coronavirus crisis on Monday after filing for protection from creditors under the corporate rehabilitation law. In a statement, Luminous Cruising Co., which runs one of Japan's largest restaurant cruise ships, laid the blame on ...
Business / Corporate Feb 25, 2020
A hotel in Aichi Prefecture will file for bankruptcy due to a steep fall in customers amid the coronavirus outbreak, Tokyo Shoko Research Ltd. said Tuesday. It marks the first business failure in Japan linked to the COVID-19 outbreak, officials at the credit agency said. The ...
National / Crime & Legal Feb 18, 2020
Nine arrested for illegally collecting money for food business Kefir
Nine people were arrested Tuesday on suspicion of illegally collecting money for a food product sales business run by a Tokyo-based mail-order service company that filed for bankruptcy in 2018, police said. Hideya Kaburaki, 84, former head of the company, Kefir Inc., and the eight ...
Business Jan 23, 2020
Ghosn predicted Nissan bankruptcy by 2022, says ex-prosecutor Gohara
Nissan Motor Co. will go bankrupt within two to three years, Carlos Ghosn told a defense attorney during more than 10 hours of interviews before the auto executive skipped bail and left Japan. The former chairman and chief executive officer of Nissan Motor Co. and ...