Tokyo Shoko Research Okinawa Branch published Tuesday its statistics on creation of new businesses in Okinawa in 2016.

According to the statistics, 1,867 new companies were registered in the prefecture in 2016 that is 157 more than the previous year, and the most since Tokyo Shoko Research started keeping statistics in 2009.

By industry, real estate with 265 new companies was leading the pack. The rate of newly established companies was the national top for the seventh consecutive year.

The Shoko Research Okinawa Branch pointed out, “There is high motivation for entrepreneurship in Okinawa, and there is a tendency for families and relatives to support starting businesses.” They added, “The increasing population and number of tourists both have positive impacts on demand and are a cause of the high rate of company creation.”

By municipality, there were 601 new companies registered in Naha City (+3.9% from the previous year), 207 in Nakagami-gun (+29.3%), 161 in Okinawa City (+11.8%), 121 in Ginowan City (-9.0%).

901of the companies had a capital of more than one and less than five million yen, 335 companies had a capital between five and 10 million yen”, and 332 companies “less than one million yen.”

By industry, real estate, construction, lodging, and primary sectors had most new companies in that order.

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