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In Japan, pressure builds on COVID-19 loan borrowers as repayments loom

Business | FOCUS May 9, 2022

In Japan, pressure builds on COVID-19 loan borrowers as repayments loom

Some borrowers of the government loans, worth up to ¥2 million and given to people who have lost their income or had it reduced due to the pandemic, have declared bankruptcy.

A powerful dynasty bankrupted Sri Lanka in just 30 months

Asia Pacific Apr 28, 2022

A powerful dynasty bankrupted Sri Lanka in just 30 months

by Kai Schultz

In recent weeks Sri Lanka has run out of cash to pay for essential goods like food and fuel, leading to long petrol lines and daily 13-hour power cuts.

Fewest bankruptcies since 1966 raise fears of Japan 'zombie' firms

Business Jan 28, 2022

Fewest bankruptcies since 1966 raise fears of Japan 'zombie' firms

by Yuko Takeo and Grace Huang

Japan has a long history of easy credit that’s been blamed for keeping "zombie” firms alive, which "bring down the potential growth rate and can even sap the impact of monetary easing.”

Asian-owned shipbuilders in Germany file for bankruptcy

Business Jan 11, 2022

Asian-owned shipbuilders in Germany file for bankruptcy

The company has seen demand for huge cruise ships or luxury mega-yachts dwindle as travel is still severely restricted during the COVID-19 pandemic, particularly in Asia.

Japan's November business failures hit a 56-year low, survey shows

Business Dec 8, 2021

Japan's November business failures hit a 56-year low, survey shows

The number of pandemic-related bankruptcies reached 172, however, hitting a record high for the third month in a row.

Kyoto is facing bankruptcy. What happens now?

Business | Longform Sep 20, 2021

Kyoto is facing bankruptcy. What happens now?

by Eric Johnston

Massive budget cuts have been proposed to stem the losses now that international tourism to the city has all but dried up.

Japan's pandemic-linked business failures in January to August top 1,000

Business / Economy Sep 8, 2021

Japan's pandemic-linked business failures in January to August top 1,000

In August alone, the number of coronavirus-linked business failures totaled 121.

Kyoto's reconstruction plan calls for big spending cuts

Business Aug 11, 2021

Kyoto's reconstruction plan calls for big spending cuts

by Eric Johnston

Kyoto faces a financial shortfall of nearly ¥280 billion over the next five years, and now day care centers, transport subsidies and the bureaucracy are on the chopping block.

Amid overspending, Kyoto stares down threat of bankruptcy

Business | View from Osaka Jul 2, 2021

Amid overspending, Kyoto stares down threat of bankruptcy

by Eric Johnston

Some might attribute the city’s financial woes to COVID-19’s impact on tourism, but the mayor puts the lion's share of the blame elsewhere.

Japan seen easing out-of-court debt settlement requirements

Business / Economy Jun 24, 2021

Japan seen easing out-of-court debt settlement requirements

The government hopes that the measures will help facilitate economic recovery and efforts to improve productivity.

Over 700 Japanese dining establishments failed in 2020 amid pandemic

Business / Economy Apr 11, 2021

Over 700 Japanese dining establishments failed in 2020 amid pandemic

The numbers of failed eateries dropped 36% and 56.3% in January and February respectively, followed by a 2.6% decline in March.

How Masayoshi Son’s ‘money guy’ Lex Greensill went from hero to zero

Business / Corporate Apr 1, 2021

How Masayoshi Son’s ‘money guy’ Lex Greensill went from hero to zero

by Giles Turner, Lucca De Paoli and Pavel Alpeyev

Greensill Capital was a key part of what Son dubbed his "Cluster of No. 1’s” strategy, taking noncontrolling stakes in the world’s leading tech companies and encouraging them to cooperate.

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