What Economic Recovery? Nearly 400 Japanese companies out of business since March

Blaming the March 11 disasters, credit research firm Teikoku Databank says at least 373 companies have collapsed since then.

Construction firms topped the list with 63 bankruptcies (despite reconstruction opportunities), followed by hotels and inns with 32 (despite people who’ve lost their homes and need a place to stay) and clothing companies with 23 (despite people who’ve lost all their clothes in the tsunami).

Even companies far away from the disaster areas have failed.  More business failures are expected, because there are 2,500 companies who say they are still unable to resume operations!