Japan Corp Bankruptcies Fall In August

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Corporate bankruptcies in Japan fell for the first time in three months in August, data released by the Tokyo Shoko Research Ltd. showed Tuesday.

Business failures dropped 1% year-on-year to 1,241 cases in August. It follows a 1% increase in July. Total liabilities amounted to JPY 284.21 billion

But, a separate report showed continuing increase in bankruptcy cases, though at a smaller pace. Such cases rose 2.4% year-on-year to 1,042 in August, the Teikoku Databank Ltd. said. In July, the number was 1,204.

The firm also said debt left behind by insolvent firms declined 66.2% year-on-year to JPY 275.34 billion. In July, the amount was JPY 340.5 billion.

Corporate bankruptcies in Japan fell for the first time in three months in August, data released by the Tokyo Shoko Research Ltd. showed Tuesday. (Market News Provided by RTTNews)