Japanese corporate bankruptcies in August fall for 20th month in row

0 Comments | AFP, September, 2004

TOKYO (AFP) — The number of Japanese corporate bankruptcies in August fell 18.2 percent from a year earlier to 1,080 cases, marking the 20th consecutive monthly decline, according to a research firm.

It noted that the number of bankruptcies in the month was the lowest since 1999.

Combined liabilities left by collapsed firms fell 48.9 percent year-on-year to 599.2 billion yen (5.4 billion dollars), Teikoku Databank said in a monthly report released Tuesday.

"The number of bankruptcies recorded the lowest number for the year, declining on a year-on-year basis for 20 consecutive months," Teikoku said.

"It fell below the 1,100 mark for the first time in five years and six months," it said.

The firm attributed the continued decline to rising...