Japan finds a ‘stealth’ cure for zombie businesses: Let them fail

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KAKAMIGAHARA (Japan), July 16 — For much of its 72 years, Hitoshi Fujita’s company was just another mom-and-pop business...

It faced some initial internal resistance, but now sells 120,000 packages annually, “a big hit” for the 97-year-old Izumiya, which reported profits for the last three years.“My father and I did not see eye-to-eye on how to break with the old way of doing things and improve productivity,” Izumi said.“So I decided to change things.

The move will help Japan channel workers and investment to its most productive companies in a tight labour market, boosting wages, said the officials, granted anonymity to discuss a sensitive issue.

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Category: EconomyBusiness

Markets: MalaysiaFranceItalyJapan

Topics: Small and medium-sized enterprises SMEs Japan economy Japan businesses

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Published On: 2024-07-16 @ 21:00:00 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 1371 words

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Sentences: 55 lines

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