倒産

The term "tousan" specifically refers to the bankruptcy or collapse of a legal entity, such as a company, corporation, or business venture. It describes the state where a business can no longer meet its financial obligations and is forced to cease its operations.

It is crucial to distinguish "tousan" from "hasan" (破産). While both are translated as "bankruptcy" in English, "tousan" is used for companies (corporate bankruptcy), whereas "hasan" is used for individuals (personal bankruptcy) or refers to the formal legal process of liquidation in court. Using "tousan" for a person is grammatically incorrect and unnatural.

In terms of register, it is a standard term used in news reports, business documents, and daily conversation. It carries a strong negative connotation of failure and loss, often associated with the loss of jobs for employees and financial loss for investors.