The number of corporate bankruptcies in Japan plunged 23.7 per cent in July compared to the same month a year ago, marking seven straight months of decline, a private credit research company said Thursday.
Corporate bankruptcies totalled 1,384 in July, Teikoku Databank said. Debts left behind by insolvent companies fell 41.8 per cent on-year to US$5.9 billion.
Japan has been struggling to turn around its economy. Some signs of hope have appeared lately, including rising corporate investment and improved profits.
If recovery in the United States and elsewhere holds up later this year, Japan is expected to export itself out of its troubles somewhat.
Source: Associated Press
