A report published at the end of March indicates a rapid surge in multiple debtors in Japan, with the figure reaching 1.47 million people. This unsettling rise is underpinned by issues of unmanageable loans and severe financial distress among households. Analysts attribute this trend to a myriad of factors, including rising living costs, stagnant wages, and an increasing reliance on credit. Urgent interventions are required to prevent the spiraling economic and social ramifications of this issue.

Debt is a highly sensitive matter in Japan. Japanese typically deplore any form of debt as they value living within one's means. They favor saving over splurging and caution against reckless spending. The spike in multiple debtors is a significant societal problem, with potential consequences for economic stability, crime rates, and overall quality of life.

While personal debt levels are a concern globally, debt management mechanisms vary across countries. In the US and EU, various debt relief options and credit counseling services are available, and bankruptcy laws tend to be more debtor-friendly. These measures help reduce personal bankruptcies and offer pathways to financial recovery. However, these technologies aren't as widespread or accessible in Japan, leading to heightened financial vulnerability.