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November 24, 2024
 

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BANKRUPTCY

The Northvolt facility in Skelleftea, Sweden.
BUSINESS / Companies
Nov 23, 2024
Northvolt crisis may be make or break for Europe's EV battery ambitions
Europe's biggest hope for an electric vehicle battery champion filed for bankruptcy protection on Thursday after talks for funding failed.
A mockup of a Northvolt battery at a factory in Skelleftea, northern Sweden. Northvolt transformed in a matter of months from Europe's best shot at a homegrown electric-vehicle battery champion to a company struggling to stay afloat.
BUSINESS / Companies
Nov 22, 2024
Northvolt files for bankruptcy in blow to Europe's EV ambitions
The firm said it has only enough cash to support operations for about a week.
A man walks past the Bank of Japan headquarters in Tokyo on Oct. 30.
BUSINESS
Nov 11, 2024
Worsening corporate mood and bankruptcies cloud BOJ's rate hike path
Some BOJ board members have voiced concerns that intensifying labor shortages could constrain growth, rather than lead to higher wages.
Funai Electric has received court approval for its bankruptcy plan.
BUSINESS / Companies
Oct 25, 2024
Funai Electric receives approval for bankruptcy plan
Founded in 1961, the firm had boasted a significant presence in Japan and abroad as an original equipment manufacturer.
Ramen shop Menya Taisei's owner Taisei Hikage cooks ramen at his shop in Tokyo.
BUSINESS / Economy
Oct 24, 2024
Japan's rising ramen prices give election voters food for thought
The problems facing ramen shop owners reflect a cost-of-living crunch that has become a top issue for voters in the general election on Sunday.
Debt-laden companies in Japan are rapidly growing in number, in some measures even faster than in 1992 after the collapse of its asset price bubble.
BUSINESS / Companies
Oct 22, 2024
Zombie companies may finally succumb to bankruptcy on BOJ hikes
Bankruptcies topped 5,000 cases for the first time in a decade between April and September, a report by Tokyo Shoko Research showed earlier this month.
Japan saw the highest number of bankruptcies since 2013 in the six months through September.
BUSINESS / Economy
Oct 8, 2024
Japan records highest number of bankruptcies in a decade as costs rise
The bankruptcies partly reflect the impact of higher prices, while a record 163 firms cited labor shortages as a reason for their struggles.
Growing moves by companies to pass on higher costs to consumers amid accelerating inflation are believed to have led to the decrease in bankruptcies.
BUSINESS / Companies
Sep 10, 2024
Japan business failures log first drop in 29 months in August
The figure stood below 800 for the first time in four months.
More Japanese firms have gone bankrupt in the first half of this year due to soaring costs, labor shortages and the end of pandemic-related support.
BUSINESS / Economy
Jul 18, 2024
Triple whammy takes Japan bankruptcies to decade high
Soaring costs, labor shortages and the end of pandemic-related financial support are taking a heavy toll on smaller businesses.
A worker at Sakai Seisakusyo prepares to transport metal rods at its factory in Kakamigahara, Gifu Prefecture, on July 8.
BUSINESS / Companies / FOCUS
Jul 16, 2024
Japan finds a 'stealth' cure for zombie businesses: Let them fail
The shift in thinking is a clear departure for a country that has typically sought to avoid bankruptcies and protect existing jobs at the cost of productivity.
The number of bankruptcies in Japan between January and June hit the highest level in a decade, up 22% from the same period last year.
BUSINESS / Companies
Jul 5, 2024
Japan's first-half bankruptcies reach highest mark in a decade, report shows
There were 4,887 bankruptcies between January and June, up 22% from the same period a year ago.
A nursing home in Ishikawa Prefecture. Wage increases in other industries have made the nursing care sector less attractive.
JAPAN / Society
Jul 4, 2024
Over 80 nursing homes in Japan went bankrupt in first half
Rising costs and a severe manpower shortage are the main reasons driving care providers out of business.
Bankruptcies rose especially among restaurant operators amid labor shortages and rising labor costs.
BUSINESS / Economy
Jun 11, 2024
Japan corporate bankruptcies surge above 1,000 in May
The latest result came as many companies struggle with rising prices, as well as labor shortages mainly in the service sector.
A Neon Genesis Evangelion statue on display at small worlds miniature museum in Odaiba.
BUSINESS
Jun 8, 2024
Gainax, known for 'Evangelion' anime production, goes bankrupt
Business conditions began to deteriorate around 2012, and the firm lost its anime production capabilities following an exodus of its creative staff.
For the first time in four years, Japan saw the number of corporate bankruptcies exceed 700 in April, Tokyo Shoko Research said Friday.
BUSINESS / Companies
May 11, 2024
Japan corporate bankruptcies rise 28.3% in April
The number of bankruptcies is expected to rise as companies face increased pressure from higher borrowing costs.
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.
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.
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.
U.S. aircraft carrier returns to Japan carrying navy’s ‘most capable fighter’
U.S. 7th Fleet Commander Vice Adm. Fred Kacher speaks to reporters shortly after the arrival of aircraft carrier USS George Washington at Yokosuka naval base in Kanagawa Prefecture on Friday.
Tokyo police care for lost umbrellas, keys and flying squirrels
An employee at the Tokyo Metropolitan Police Department Lost and Found Center in the Iidabashi area of central Tokyo bags, tags and organizes thousands of items.
After Shohei Ohtani bump, Iwate ironware maker sees brighter future
Kaito Kikuchi's decision to send superstar Shohei Ohtani one of his company's traditional ironware tea kettles has paid off with a surge of interest from general consumers.
Japan approves ¥21.9 trillion stimulus plan
The policy chiefs of the Democratic Party for the People, Liberal Democratic Party and Komeito — Makoto Hamaguchi (left), Itsunori Onodera (center) and Mitsunari Okamoto — shake hands after reaching an agreement on an economic stimulus package on Wednesday.
Woman dies after train collides with car in Tochigi
A Moka Railway train car
Tokyo’s newest three-star chef wants ‘harmony across every detail’
British-born Daniel Calvert earned his third Michelin star last month — a stunning achievement considering his restaurant, Sezanne, has only been open for just over three years.
133-year-old Kyushu railway station remains to be partially preserved
The remains of the original Moji Station in Kitakyushu
After Shohei Ohtani bump, Iwate ironware maker sees brighter future
Kaito Kikuchi's decision to send superstar Shohei Ohtani one of his company's traditional ironware tea kettles has paid off with a surge of interest from general consumers.
Shohei Ohtani wins National League MVP award
Shohei Ohtani celebrates after hitting a three-run home run against the Padres during the National League Division Series at Dodger Stadium in Los Angeles last month.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”

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