February - Corporate Bankruptcies Decline for a Seventh Month

Corporate bankruptcies fell for a seventh month in February by 17.3 percent from a year earlier to 1,090 cases, Tokyo Shoko Research Ltd. said in Tokyo today, extending the longest streak of declines since 2005.

Liabilities accompanying the corporate failures plummeted 64.29 percent to 438.83 billion yen as credit became more readily available for companies due to government stimulus measures and a new law that came into force late last year to help out smaller firms, Tokyo Shoko Research said.

The benefits of Japan’s export-led recovery have been slow to spread to the country’s smaller businesses, which employ 70 percent of the nation’s workforce. Tokyo Shoko Research said, however, that recession-linked factors such as slumping sales accounted for a record high 83.4 percent of all failures, reflecting the impact of deflation.

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