Bijutsu Shuppan-sha Filed for Court Protection

On March 4, Bijutsu Shuppan-sha Co., a publisher of art magazines and books such as the monthly magazine ‘Bijutsu techō’, applied to the Tokyo District Court for the bankruptcy protection under the Civil Rehabilitation Law. On top of their heavy financial debt, the publisher’s revenue dropped due to stagnant sales in the publishing industry as a whole. In May, Bijutsu shuppan-sha was able to continue its business under new administration, having Culture Entertainment, a Culture Convenience Club group company, as a new sponsor. (Japanese)