In Japan, when getting a loan from a bank, etc., it is common to ask for a joint guarantee of the proprietor and in the case of SMEs and micro-enterprises, the proprietor is most often the joint guarantor of loans, leases and other debts. No president would be surprised or refuse to stand as a joint-guarantee when asked by a financial institution.
Perhaps, the Japanese have many opportunities to be a joint guarantor, not just limited to the proprietor. When renting a rental apartment, one or two guarantors are always required, this is actually a joint guarantee.
In everyday life, there are widespread personal guarantees such as when you are admitted to a hospital or as a guarantor when you get a job. Even an ordinary person often becomes a guarantor once or twice in life.
However, overseas, especially in Europe and America the situation is different.
Even if you are a new company with few assets, the proprietor may not always be asked for a joint guarantee when getting a loan from the bank. Furthermore, even in transactions between business firms, it is not uncommon for the proprietors of overseas companies to reject when asked for joint guarantees for the purpose of preserving open accounts.
This is their way of thinking. "Why do I have to underwrite a joint guarantee which is unlimited liability despite being incorporated because of limited liability? I am not a sole proprietor."
In addition to these psychological hurdles, many countries have stricter legal requirements than Japan. Therefore, it is better to think that general personal guarantee in Japan is not very popular in overseas as a means of debt protection.