There is no such thing as an everlasting 'strongest business model', 'rock-solid revenue structure', or 'best strategy'. 'The Greatest Lesson: Bankruptcy' - a book that teaches more deeply than success - goes on sale (6/10)

Daiwa Shobo Co., Ltd. (Headquarters: Bunkyo-ku, Tokyo; Representative Director: Tetsu Yamato) will release 'The Greatest Lesson: Bankruptcy' (written by Shigehisa Murakami) on June 10, 2026.

In 2025, there were 10,261 bankruptcies. Japan is in an era of 'mass bankruptcies' exceeding 10,000 cases per year.

Bankruptcy is not someone else's problem for working people.

But many people do not know the reality of bankruptcy. - How can you spot dangerous numbers? - What exactly leads a company to bankruptcy? - What happens to a company after bankruptcy?

In this book, Shigehisa Murakami, a finance specialist who joined Shinsei Bank as a new graduate and handled over 100 investment and financing cases including distressed debt investments, and now supports new business development and startups, explains.

Based on various real-world examples—companies that went bankrupt, those on the brink, those that rapidly went bankrupt despite being profitable, those that were acquired without bankruptcy, the intentions of acquiring funds, and those that successfully revived after bankruptcy—the book analyzes the complex structures behind bankruptcy from both accounting and finance perspectives.

Using financial statements as clues to assess 'corporate safety' and 'true strength', the book teaches how to read future cash flows, corporate strengths and weaknesses, business value, and business models, enabling one-level-higher corporate analysis.

Table of Contents

Prologue 1: What is Corporate Bankruptcy? Prologue 2: Learning from Nitori's Financial Statements: Corporate Financial Structure and Safety Analysis Part 1: Environmental Changes and Business Model Collapse Chapter 1: Case Study: Otsuka Kagu Chapter 2: Case Study: WeWork and Others: Are They Succeeding or Failing? The Backstage of Loss-Making Growth Companies Chapter 3: Case Study: Urban Corporation: The Time Bomb Hidden in Healthy B/S and P/L Chapter 4: Case Study: Village Vanguard Part 2: Logic of Capital and Corporate Bankruptcy Chapter 5: Case Study: Renown: The Complex Parent-Child Relationship of a Company – Why a Consolidated Subsidiary Filed for Civil Rehabilitation against Its Parent Chapter 6: Case Study: Toys "R" Us: The Bankrupt Parent (US Toys "R" Us) and the Surviving Subsidiary (Toys "R" Us Japan) Chapter 7: Case Study: Onkyo: Corporate DNA Carried On After Bankruptcy Chapter 8: Case Study: Sogo & Seibu: The Hidden Intentions of Funds in Distressed Debt Investment and Corporate Revitalization Part 3: Unconventional Finance and Business Revitalization Chapter 9: Case Study: Starbucks and Others: Unconventional Financial Strategies Seen by Comparing B/S Chapter 10: Case Study: Halmeq: Major Revival from Business Failure

Author's Biography

Shigehisa Murakami

Financial Consultant / President of FineDeals Co., Ltd. After joining Shinsei Bank as a new graduate, he handled over 100 investment and financing cases including distressed debt investments. After leaving the bank, he served as CFO of GOB Incubation Partners Co., Ltd., supporting new business development, entrepreneurship, and startups as a finance specialist. Using financial statement figures as clues, he assesses future cash flows, corporate strengths and weaknesses, business models, and corporate and business value.

Book Details

Title: The Greatest Lesson: Bankruptcy Author: Shigehisa Murakami Release Date: June 10, 2026 Format: A5 Pages: 312 Price: 2,420 yen (tax included) Publisher: Daiwa Shobo Co., Ltd. https://www.daiwashobo.co.jp