Shokusan Jutaku Sogo Co., a leading builder of custom-made houses, on Sunday filed for court protection from creditors with liabilities of 13.5 billion yen, the company said.
Known for its Homest brand, the company applied for protection under the Civil Corporate Revival Law with the Tokyo District Court after holding an extraordinary board of directors' meeting earlier in the day.
The firm, listed in the First Section of the Tokyo Stock Exchange, took the legal action under fast-track legislation for corporate rehabilitation after it gave up efforts to rehabilitate itself as the sluggish housing industry weighed heavily on its profitability, the company said.