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Business trends

Business failures in Japan hit monthly high of 780 in June

Coronavirus proves especially detrimental to travel and restaurant industries

An Itadori Tokyo noodle shop (left) and  Hotel WBF: Operators of both establishments were among the 780 companies that filed for bankruptcy in June.

TOKYO -- Bankruptcies in Japan hit 780 in June, marking the highest monthly total for the year, as hotels and restaurants were hammered by the coronavirus pandemic.

According to Tokyo Shoko Research, the number of companies that filed for bankruptcy in June rose 6.3% from the previous year, while total liabilities increased 48.1% year on year to 128.8 billion yen ($1.2 billion).

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