Japan's century-old companies suffer 95% surge in bankruptcies

Inflation and succession problems deal blow to longtime businesses

20240719N Shuttered stores

Small businesses in Japan are under pressure from rising costs. (Photo by Shotaro Mori)

Nikkei staff writers

TOKYO -- Bankruptcies among Japanese businesses that are over 100 years old jumped 95% on the year to a record high in January-June, according to a report Friday by Teikoku Databank.

A total of 74 were in court-led bankruptcy during the period, the largest number for the first half in data going back to 2000. The full-year tally could top the 120 seen in 2008, during the global financial crisis.

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