Corporate bankruptcies in Japan topped 10,000 in 2024, the highest in 11 years, driven by labour shortages and rising import costs due to a weaker yen, Tokyo Shoko Research reported. Bankruptcies rose 15.1% to 10,006, with SMEs accounting for 10,004 cases. Total liabilities fell 2.4% to JPY2.34 trillion (USD14.8bn). The yen’s sharp depreciation and stricter overtime rules strained sectors such as construction and services, which saw 1,924 and 3,329 cases respectively. Labour-related bankruptcies hit a record 289 cases, while those tied to succession issues reached 462. Cases linked to social security costs and taxes nearly doubled to 176. Despite some relief through loan refinancing, many businesses face continued challenges without operational turnarounds.