Recently, the news about the bankruptcy of Japan companies has aroused heated discussions.
According to Xinhua News Agency, the latest data shows that in the first half of this year, the number of bankruptcies of enterprises more than 100 years old in Japan soared by 95% year-on-year, a record high.
According to a survey by the Japan Imperial Database Corporation, in the first half of this year, 74 Japan companies that were founded more than 100 years ago fell into bankruptcy, nearly double the number in the same period last year and the highest record for the same period since 2000.
Japan ranks first in the world in terms of corporate lifespan, with more than 2,000 centennial companies, more than 100 200-year enterprises, more than 20 500-year enterprises, and millennium enterprises.
Japan companies pursue excellence and generally have strong competitiveness in a certain segment.
Why are so many Japan's century-old companies going bankrupt this year?
In recent years, the yen has depreciated significantly. On July 3, the exchange rate of the U.S. dollar against the Japanese yen once exceeded 161.894 yen per U.S. dollar, hitting a new low in 38 years.
Japan is a resource-poor country and relies on imports for most of its goods.
The sharp depreciation of the yen has led to high domestic prices in Japan, an increase in business operating costs, a decline in profits, and many century-old enterprises have suffered losses in a row.
On the other hand, Japan's fertility rate continues to decline and the aging population is serious, making business succession a major problem.
On June 5, according to data released by the Ministry of Health, Labor and Welfare of Japan, in 2023, Japan's total fertility rate will decline further, hitting a record low.
Some of Japan's century-old businesses are family-owned, but after several generations of operations, they were forced to go bankrupt and close due to the decline in fertility rates.
Another reason is that most of the young people in Japan today choose to lie flat.
Japan is a developed country and has one of the best welfare benefits in Asia.
Japan has the highest level of medical care in the world, and ordinary people basically do not spend much money on medical treatment.
According to the 2022 World Health Organization's global medical evaluation report, Japan's medical level once again ranked first in the world, while China only ranked 64th.
Japan's medical security system is relatively perfect, and universal medical coverage has been achieved through a combination of social medical insurance, corporate medical insurance, and government medical insurance.
In Japan society, minor illnesses do not cost money, and major illnesses cost very little money.
In addition, Japan has 12 years of compulsory education, and all public schools from elementary school to high school are free.
Having solved the problems of medical care and education, the pressure on young people in Japan is not so great.
They pursue a life of freedom and do not want to repeat the footsteps of their parents and grandparents.
What's the point of having a century-old store if I'm not happy?
Due to the lack of vitality and desire of young people in Japan, Kenichi Ohmae, a famous management scientist in Japan, called today's Japan a low-desire society and wrote a book.
In the last 30 years, few young people in Japan have chosen to start their own businesses, and there are very few startups in Japan compared to China and the United States.
Japan's economy is mainly supported by the automobile industry and the tourism industry.
In emerging industries, such as electric vehicles and artificial intelligence, Japan has lagged behind.
The collapse of the yen, the decline in fertility and the flattening of young people have made Japan society as a whole less vibrant, and some century-old companies have no choice but to go bankrupt and close.
Some people say that Japan's today is the tomorrow of other Asian countries.
Once a society as a whole becomes rich, everyone's pursuits begin to change, and the perception of money is different.
What people want is to enjoy life, not to make more and more money for life.
However, there are two prerequisites for enjoying life: solving medical problems and educational problems.
At present, most Asian countries do not have these two prerequisites.
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