TOKYO, Jan. 13 (Xinhua) -- The number of corporate bankruptcies in Japan surpassed 10,000 in 2025 for the second consecutive year amid a labor shortage and high prices, particularly affecting small and medium-sized enterprises, Kyodo News reported Tuesday.
Bankruptcy cases, involving debts of at least 10 million yen (about 62,910 U.S. dollars), rose 2.9 percent from the previous year to 10,300, the highest level since 2013, with small-scale bankruptcies accounting for 76.6 percent of the cases, the report said, citing a survey by Tokyo Shoko Research.
Meanwhile, total liabilities were 1.59 trillion yen, down 32.1 percent from the previous year amid few large-scale bankruptcies, said the survey.
By industry, the service sector, including restaurants, saw the highest number of bankruptcies at 3,478 cases, up 4.5 percent, followed by construction at 2,014, up 4.7 percent, and manufacturing at 1,186, up 3.9 percent.
The survey showed that bankruptcies resulting from labor shortages surged by 36 percent, reaching a record high of 397 cases. Additionally, business failures attributable to high prices increased by 9.3 percent, reaching 767 cases. (1 Japanese yen equals about 0.006 U.S. dollars) ■