Crescent hotel operator files for bankruptcy with 2.69 billion yen in debt

Crescent Co., Ltd., a hotel management company formerly known as HMJ International, has been ordered to undergo bankruptcy proceedings by the Tokyo District Court as of September 30, 2026. The company reported total liabilities of approximately 2.69 billion yen.

Established in May 2018, the firm specialized in managing hotel operations in areas such as Tokyo Kamata and Osaka Rinku. The company faced chronic deficits starting in late 2018, which were exacerbated by the decline in tourism demand during the COVID-19 pandemic. Additionally, the company faced legal disputes with property owners, resulting in a court order for damages.

Crescent ceased operations in October 2023. While the company underwent several organizational restructurings and mergers between 2022 and 2024, it was unable to stabilize its financial position. The hotels previously managed by Crescent, including Hotel Oriental Express Tokyo Kamata and Oriental Sweets Airport Osaka Rinku, continue to operate under different management entities.