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Business trends

Japan's COVID-induced business failures up 49% in August

Restaurant and bars have been hit hardest by state of emergency

Tokyo Shoko Research found that 1,026 businesses went bankrupt in Japan from January to August due to the COVID-19 pandemic. (Photo by Yuki Kohara) 

TOKYO -- Coronavirus-induced business failures in Japan rose 49% in August to 121 from a year earlier amid a fourth wave of COVID infections.

Analysis from research specialist Tokyo Shoko Research published Wednesday found that the total number of coronavirus-induced bankruptcies from January to August reached 1,026, accounting for around 26% of all business failures in Japan over the period.

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