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Corporate bankruptcies hit 27-year low

Jiji Press TOKYO (Jiji Press) — The number of corporate bankruptcies in January-June fell 0.1 percent from a year before to 4,267, the lowest level since 1990, Tokyo Shoko Research Ltd. said Monday.

The decrease for the eighth year in a row stemmed from a gradual recovery in the economy and banks responding flexibly to debt deferment requests from small and midsize companies, the private credit research company said.

The data covered bankruptcies involving debts of ¥10 million or more.

The total liabilities left by failed firms increased 2.8 times to ¥2,210.4 billion, exceeding two trillion yen for the first time in five years.

The debts left by failed airbag maker Takata Corp. accounted for 70 percent of the half-year total. Speech

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