Nearly 500 companies in Japan have gone bankrupt. Which industry is the worst?

According to a report by the Russian Satellite News Agency on the 8th, statistics from a private company in Japan showed that the country was affected by the epidemic. From February to September 7 this year, 495 companies in Japan declared bankruptcy, with the catering industry being the most affected, with 69 companies going bankrupt. This is followed by the hotel industry and the clothing industry. Geographically, the Tokyo area suffered the greatest losses, with 122 companies closing.

Starting from the first company filing for bankruptcy on February 25, 100 companies went bankrupt about 61 days later; it took about 35 days to increase from 100 to 200; it took about 29 days to increase from 200 300; it took about 34 days to increase from 300 to 400; it took about 36 days to increase from 400 to 500.

Extended information

Japan’s economy has declined for two consecutive quarters:

In the last quarter of the financial report, after deducting the price factors in the first quarter of this year, Japan’s actual Gross domestic product (GDP) fell by 0.9 month-on-month, or 3.4% on an annualized basis. So far, Japan's economy has declined for two consecutive quarters.

In the second quarter, Japan’s economic contraction will be more severe. Analysts predict that Japan’s economy may shrink by more than 20% in the second quarter. The Nisei Institute of Basic Research also predicts that Japan's economic contraction rate in the second quarter may exceed 20 on an annualized basis, exceeding the largest decline after World War II, which was 17.8 in the first quarter of 2009 after the financial crisis.

CCTV Finance-Nearly 500 companies in Japan went bankrupt in 7 months! This industry is the most “miserable”