About 10,000 Japanese businesses are at risk of bankruptcy.

VTV.vn - Tokyo Shoko Research said rising costs and a weakening yen are pushing many businesses into difficulty.

Illustration photo - Photo: Nikkei Asia

Japan is likely to record the second consecutive year with more than 10,000 bankruptcies, according to credit research firm Tokyo Shoko Research.

According to Tokyo Shoko Research, Japan recorded more than 9,300 bankruptcies in the first 11 months of the year. Statistics show that small businesses are the hardest hit by rising prices and labor shortages.

The services sector saw the highest number of bankruptcies during the month with 250, although it was down 17.8% year-on-year.

The weakening yen has contributed to higher food and energy costs, making it difficult for businesses to do business.

The cheap yen has made imports much more expensive. Higher food prices can also dampen overall consumer demand as people cut back on other spending, such as replacing cars and appliances or taking vacations. This becomes a drag on the economy .

Rising food costs are forcing Japanese consumers to tighten their belts and hunt for bargains. Japanese companies raised wages last year, but not enough to offset the price increases.

According to Japan's Ministry of Health , Labor and Welfare, real wages in 2024 fell 0.3% and show little sign of improvement.

Prices of about 20,000 food items are expected to rise this year, far exceeding last year's increase, research firm Teikoku Databank said.

Source: https://vtv.vn/khoang-10000-doanh-nghiep-nhat-co-nguy-co-pha-san-1002512091531568.htm