The coronavirus pandemic has pushed 51 Japanese companies into bankruptcy with a spike in new cases seen in April, Tokyo Shoko Research said on Friday, underscoring the toll the health crisis is taking on the world’s third-largest economy, Reuters reported. The bankruptcies were mostly in the hotel and restaurant industries, such as hot spring hotel operator Fujimi-so in Aichi, central Japan, though they were spreading to small retailers and food producers reliant on inbound tourism, the credit research firm said in a report. Prime Minister Shinzo Abe declared a state of emergency on Tuesday for Tokyo and six other prefectures, after a jump in coronavirus cases in Tokyo sparked concern that Japan was headed for the sort of explosive outbreak seen in other countries.
