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Coronavirus

Japan's smaller companies prove more resilient to COVID-19

Only 10% have closed or suspended operations versus 26% average for global peers

TOKYO -- It appears the percentage of small-to-medium-sized companies forced to suspend operations or discontinue their business in Japan amid the novel coronavirus pandemic has remained smaller compared to that in many other countries.

According to the Organization for Economic Cooperation and Development, the percentage in Japan reached 10% in May, well below the global figure of 26%. Japan's lower figure is attributed to the absence of the strict lockdown measures introduced in Europe. Still, the economic crisis may last for an extended period if infections once again spread widely.

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