The number of bankruptcies in Japan is on the rise this year as companies are hit by a triple whammy of soaring costs, labor shortages and the end of pandemic-related financial support.
In the first half of 2024, the number of companies going bankrupt rose 22% year-on-year to 4,887, the highest since 2014, according to Teikoku Databank.
If the situation doesn’t improve, Japan could have 10,000 bankruptcies by the end of the year.