Japan used car dealers suffer as weak yen benefits foreign rivals
RISAKO KOJIMA and SOTA TANAKA
TOKYO -- Bankruptcies of used car dealerships in Japan are increasing despite strong demand due to higher inflation, as a weak yen benefits foreign dealers buying automobiles at auction.
In the first five months of the year, 50 used auto dealerships filed for bankruptcy, a 56% rise compared with the same period last year, according to corporate research company Teikoku Databank. The surge in bankruptcies is nearing a record high in 2009 after the global financial crisis.
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