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

Published 12/08/2024, 11:36 PM
Updated 12/08/2024, 11:40 PM
© Reuters. FILE PHOTO: A train of the Yurikamome line, a driverless automatic train system, runs with the city skyline in the background, in Tokyo, Japan, April 21, 2021. Picture taken April 21, 2021.  REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) - 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, ahead of a closely watched central bank meeting next week.

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

© Reuters. FILE PHOTO: A train of the Yurikamome line, a driverless automatic train system, runs with the city skyline in the background, in Tokyo, Japan, April 21, 2021. Picture taken April 21, 2021.  REUTERS/Kim Kyung-Hoon/File Photo

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 holds a rate review on Dec. 18-19 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.

 

 

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