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A recent survey by Japan's Imperial Database Company shows that 74 Japanese companies with a history of more than 100 years have gone bankrupt in the first half of this year, nearly twice as many as the same period last year, setting a new record for the same period in history since the data began to be collected in 2000.

High prices have led to falling profits and a lack of successors, which have become the main reasons for the bankruptcy of Japan's century-old companies. The Nihon Keizai Shimbun predicts that the number of bankruptcies of century-old companies this year will far exceed that of 2008, when the international financial crisis occurred.

In terms of industry, 22 manufacturing and 21 retail companies with a history of more than 100 years went bankrupt in the first half of the year, accounting for about 60% of the total. For these companies with a history of more than 100 years, the cost of updating obsolete production equipment has become a heavy burden on their operations.

Asahi Kaitaro, head of Teikoku Database, told the media: "Rising prices in recent years have caused tight cash flow for companies, and price transfer based on long-term partnerships has become increasingly difficult."

According to statistics from the Imperial Database Company, there will be about 43,600 century-old companies in Japan in 2023. (Xinhua News Agency)