COVID-19 in Japan: 36,000 companies have to close down because of economic damages

Almost 36,000 companies in Japan have been forced to close down due to the economic damages caused by the COVID-19 coronavirus pandemic.

The total number of companies that are expected to go bankrupt in 2020, according to a projection of the Japanese think-tank Tokyo Shoko Research, could reach over 53 thousand, the highest since 2000. The effects of COVID-19 in Japan are very harsh.

The dark side of COVID-19 pandemic: the economic damage

“With the continuation of the pandemic, an increase in the number of companies that will go out of business is also inevitable, not so much because of lack of liquidity but because of the prospect of declining demand,” the think-tank noted in the report published on the subject.

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