Japan’s bankruptcies set to hit 11-year high

A Yurikamome line train runs with city skyline in background, in Tokyo

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 — 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.

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 scrutinize 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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