Japan’s bankruptcies set to hit 11-year high in 2024, data shows

JAPAN’S bankruptcy filings this year are set to surpass 10,000 and hit the highest since 2013, private-sector data by Tokyo Shoko Research (TSR) showed on Monday (Dec 9), ahead of a closely watched central bank meeting next week.

In November, 841 Japanese companies went bankrupt, bringing the January to November tally to 9,164, already exceeding last year’s total, data from the credit research agency showed.

The 2024 bankruptcy figure will likely exceed 10,000 for the first time since 2013, when 10,855 firms went bankrupt.

The Bank of Japan (BOJ) holds a rate review on Dec 18 to 19 at which policymakers will scrutinise recent economic indicators to see if they are in line with forecasts. Market expectations for the next BOJ rate hike have fluctuated between December and January. REUTERS