MOSCOW (Pakistan Point News / Sputnik - 07th September, 2020) Almost 500 businesses went bankrupt in Japan due to the economic hardships caused by the ongoing coronavirus pandemic since February, the media reported on Monday.
As of Friday, the number of companies that filed for bankruptcy or launched legal liquidation procedures reached 489 in Japan, the NHK broadcaster reported, citing the Teikoku Databank research firm.
Businesses operating in the food, accommodation and clothing industries were affected the most, according to Teikoku Databank.
Meanwhile, 8.5 percent of small and medium businesses may cease operations if the pandemic does not end soon enough, according to a survey conducted by Tokyo Shoko Research in July and August. The results of a survey suggest that over 300,000 Japanese companies may face bankruptcy.
