Mad cow disease blamed for 64 bankrupsies in Japan

July 22, 2002 BBC Monitoring International Reports 
Tokyo, 22 July: A total of 64 meat sellers and other businesses have gone bankrupt as a result of mad cow disease, which broke out in Japan last September, a credit research firm said Monday 22 July .

Liabilities totalled 39,065m yen, Teikoku Databank Ltd. said. Monthly failures related to the disease peaked with 12 cases in February.

Tracing mad cow disease-related bankruptcies from last October through June this year, Teikoku Data said 75 per cent of the 64 companies are meat sellers and beef barbecue restaurants.

In addition, 86 per cent of the failed firms are small businesses with liabilities of less than 1bn yen.

Teikoku Databank also found 53 per cent of the failures attributable to sales declines.

Source: Kyodo News Service, Tokyo, in English 0948 gmt 22 Jul 02

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