Toshin Credit Service enters bankruptcy proceedings in Osaka

Toshin Credit Service, an Osaka-based company specializing in credit card sales settlement and collection services, has been ordered to undergo bankruptcy proceedings by the Osaka District Court. The decision was made on September 16.

Founded in 1998, the company originally provided early settlement services for sales receivables from restaurants, bars, and retail shops. According to Teikoku Databank, the company's business environment deteriorated due to the impact of COVID-19 emergency measures and voluntary business suspensions, which forced many of its client restaurants to reduce hours or close. This decline, coupled with compliance issues and subsequent credit instability, hindered the company's ability to secure funding.