Corporate bankruptcies in October declined 9.91 percent from a year earlier to 1,136, dropping year on year for the 15th consecutive month due to government aid measures for smaller firms and improved performances mainly by exporters and other large firms, a credit research firm said Tuesday.
Debts left behind by the failed firms leaped 79.11 percent to ¥520.05 billion, due to three major bankruptcies involving debts of more than ¥50 billion, which pushed up the overall figure for October, Tokyo Shoko Research said.
Of the 10 industries surveyed, corporate failures decreased in seven sectors while more companies went bankrupt than in the previous year in the transportation service and real estate industries. The figure for the agriculture, forestry, fisheries and mining sector remained unchanged.
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