Japan sees 51 coronavirus-related bankruptcies; hospitality sector hit hard

The number of coronavirus cases in Japan rose to 5,548 on Thursday, with 108 deaths

The coronavirus (Covid-19) 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.

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.

"Firms in the catering and funeral industries are also facing bankruptcies," as people refrain from participating in events including funerals,