General Motors Corp.'s filing for bankruptcy protection June 1 will have a wide impact on Japan's economy, ranging from further reduced U.S. consumption and car sales to fallout hitting the nation's parts makers, experts said.

A man looks at a Cadillac CTS at a General Motors dealership in Minato Ward, Tokyo, on June 1. KYODO PHOTO

The largest industrial bankruptcy in U.S. history is expected to push down U.S. gross domestic product by 0.03 percentage points because it will idle around 114,000 GM assembly workers and dealership employees, putting a further damper on household spending, said Takahide Kiuchi, chief economist at Nomura Securities Co.

The weaker consumption in turn will push down Japan's GDP by about 0.02 points through a fall in sales of Japanese cars, he said.

But Kiuchi said the more immediate impact will be on Japanese auto parts makers, not the overall economy or the automakers.

"Parts makers are expected to suffer most, due to possible defaults as well as reductions in their sales," said Yuji Masaki, manager of information reporting at Teikoku Databank Ltd.

The private credit research firm said at the end of May that 102 Japanese parts suppliers and other companies face potential failure to recover accounts receivable from GM now that it has filed for Chapter 11.

Major Japanese car parts makers have applied for U.S. government guarantees on receivables under a $5 billion Treasury Department program. But many small suppliers haven't qualified for the federal assistance because they need to be approved by GM to be deemed necessary sources for the failing U.S. giant, experts said.