Economics
Japan Bankruptcies Hit Lowest Since the 1960s: What Gives?
Mopeds stand outside restaurants on an empty street at night in Tokyo.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
You’d be forgiven for assuming that Japanese bankruptcies would jump during a nationwide state of emergency that shut thousands of businesses amid the struggle to contain the coronavirus.
In fact, though, two surveys on Monday showed bankruptcy filings actually plunged in May. According to one report, from researcher Teikoku Databank, bankruptcies slid 56% to 288, the lowest monthly number since 1964. Another report from Tokyo Shoko Research showed a similar slide.