The number of corporate bankruptcies in August fell 14.26 percent from a year earlier to 1,064 for the 13th consecutive month of year-on-year decline, with debts left behind by failed firms shrinking below the ¥200 billion level for the first time in 19 years and 10 months, a credit research firm said Wednesday.
Liabilities accompanying the corporate failures sank 33.52 percent to ¥188.92 billion due to government stimulus measures as well as business improvements, mainly major firms expanding their exports to vigorous emerging economies, Tokyo Shoko Research said.
The research company also noted that failures with liabilities of more than ¥10 billion were not reported for the first time since the bubble economy period of September 1990. Tokyo Shoko's monthly survey covers failures with debts of ¥10 million or more.
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