Wednesday, November 14, 2012

October - Bankruptcies in Japan rose for 2nd straight month

A private credit research firm says the number of bankruptcies in Japan rose in October for a 2nd straight month.

Teikoku Databank says the number of companies going under last month with debts of more than 125,000 dollars was 961. That's up 6.1 percent from the same month last year. The 2nd consecutive monthly rise was the first in 14 months.

The firm said poor performance by leading TV and mobile phone makers led to bankruptcies of small businesses that subcontract them. It added that trucking companies went under due to soaring fuel prices.

Meanwhile, the government surveyed workers' business sentiment in October.

The sentiment index stood at 39, down 2.2 points from the previous month. It fell for a third straight month.

The government attributed the dip to a drop of the number of Chinese tourists traveling to Japan and a decline in production and exports to China due to deteriorating relations with the country.

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