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

August 5, 2024


For much of its 72 years, Hitoshi Fujita’s company was just another mom-and-pop business grinding out metal parts. If more small companies don’t follow suit, Fujita says, the country that transformed global manufacturing in the 20th century is looking at a dim future. Years of faltering growth and population decline left many of Japan’s small and medium-sized firms squeaking by on state help and almost-free funding.

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