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Business trends

1,000 Japanese companies go bust due to coronavirus pandemic

85,000 jobs lost with restaurant sector taking the brunt

Traffic in Tokyo's ritzy Ginza district has plunged under the state of emergency.

TOKYO -- One thousand companies have gone bankrupt in Japan due to the impact of the coronavirus epidemic as shorter hours and sheltering habits have overwhelmed vulnerable industries, hitting restaurants particularly hard.

The number was derived by a private sector tally and comes as Prime Minister Yoshihide Suga has extended an emergency declaration that was first implemented Jan. 8 by another month to March 7, which will put further pressure on the economy, especially the service sector.

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