Akita Prefecture bankruptcy debt hits second-highest level in 10 years

In Akita Prefecture, the total amount of debt from corporate bankruptcies in July reached over 3.4 billion yen, marking the second-highest total in the past decade. According to Tokyo Shoko Research Akita Branch, while the number of bankruptcies (with liabilities of 10 million yen or more) remained at four cases, the total debt increased significantly compared to the previous month.

The surge in total debt was driven by a large-scale bankruptcy of a laminated wood manufacturer, which accounted for approximately 3 billion yen in liabilities.