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Firms’ bankruptcies hit 28-year low

Jiji Press TOKYO (Jiji Press) — The number of corporate bankruptcies in Japan in January-June fell 2.8 percent from a year before to 4,148, hitting the lowest level since 1990, when Japan was in the final stage of its “bubble economy” period, Tokyo Shoko Research Ltd. said Monday.

The result marked the ninth straight decline for a first-half period.

The private credit research company said financial institutions were flexible in extending loan repayment periods or changing the terms of loans for the sake of borrowers.

The data covered business failures that left ¥10 million or more in liabilities. Total liabilities left by the failed companies shrank 66.2 percent to ¥746.6 billion, also registering a 28-year low.

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